Wall Street Zen Downgrades Blue Foundry Bancorp (NASDAQ:BLFY) to Sell

Blue Foundry Bancorp (NASDAQ:BLFY) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Monday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blue Foundry Bancorp in a report on Thursday, October 30th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $10.00.

Blue Foundry Bancorp Price Performance

Shares of NASDAQ BLFY opened at $7.80 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $9.08. The company has a market cap of $161.93 million, a PE ratio of -16.96 and a beta of 0.59. Blue Foundry Bancorp has a twelve month low of $7.78 and a twelve month high of $11.38.

Blue Foundry Bancorp (NASDAQ:BLFY) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). Blue Foundry Bancorp had a negative return on equity of 2.84% and a negative net margin of 9.82%.The company had revenue of $12.61 million during the quarter, compared to analysts’ expectations of $12.35 million. On average, analysts predict that Blue Foundry Bancorp will post -0.47 EPS for the current year.

Institutional Trading of Blue Foundry Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Blue Foundry Bancorp by 181.2% in the 3rd quarter. Versant Capital Management Inc now owns 3,074 shares of the company’s stock valued at $28,000 after purchasing an additional 1,981 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Blue Foundry Bancorp by 72.8% during the third quarter. BNP Paribas Financial Markets now owns 4,066 shares of the company’s stock worth $37,000 after buying an additional 1,713 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Blue Foundry Bancorp by 257.8% during the second quarter. Tower Research Capital LLC TRC now owns 5,156 shares of the company’s stock worth $49,000 after buying an additional 3,715 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Blue Foundry Bancorp by 56.4% in the first quarter. PNC Financial Services Group Inc. now owns 7,088 shares of the company’s stock valued at $65,000 after acquiring an additional 2,557 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Blue Foundry Bancorp in the second quarter valued at about $96,000. 56.52% of the stock is owned by institutional investors and hedge funds.

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.