Short Interest in Blue Foundry Bancorp (NASDAQ:BLFY) Drops By 6.6%

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 405,300 shares, a drop of 6.6% from the December 31st total of 434,100 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 53,800 shares, the short-interest ratio is currently 7.5 days.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price target on Blue Foundry Bancorp from $11.00 to $10.00 and set a "market perform" rating for the company in a research note on Thursday.

Blue Foundry Bancorp Price Performance

NASDAQ BLFY traded down $0.01 during trading hours on Monday, reaching $9.74. The company's stock had a trading volume of 44,017 shares, compared to its average volume of 49,896. Blue Foundry Bancorp has a 1 year low of $7.90 and a 1 year high of $11.48. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $222.07 million, a price-to-earnings ratio of -17.39 and a beta of 0.63. The firm's 50-day moving average price is $10.03 and its 200-day moving average price is $10.33.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.04. Blue Foundry Bancorp had a negative net margin of 13.65% and a negative return on equity of 3.45%. On average, equities research analysts predict that Blue Foundry Bancorp will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BLFY. R Squared Ltd bought a new position in Blue Foundry Bancorp during the fourth quarter valued at $34,000. FMR LLC boosted its stake in shares of Blue Foundry Bancorp by 72.3% during the third quarter. FMR LLC now owns 6,482 shares of the company's stock valued at $66,000 after purchasing an additional 2,720 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Blue Foundry Bancorp during the third quarter worth approximately $71,000. PDT Partners LLC purchased a new stake in shares of Blue Foundry Bancorp in the third quarter valued at approximately $129,000. Finally, International Assets Investment Management LLC bought a new position in Blue Foundry Bancorp in the third quarter worth approximately $2,000,000. Institutional investors own 56.52% of the company's stock.

About Blue Foundry Bancorp

Blue Foundry Bancorp operates as a bank holding company for Blue Foundry Bank, a savings bank that offers various banking products and services for individuals and businesses in the United States. The company offers saving, time, and non-interest bearing deposits; demand accounts; and loans, such as one-to-four family residential property, multi-family, residential real estate, non-residential real estate, consumer, construction, and commercial and industrial loans, as well as junior liens and home equity lines of credit.

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