Essex Financial Services Inc. Cuts Holdings in Blue Foundry Bancorp (NASDAQ:BLFY)

Essex Financial Services Inc. lowered its position in Blue Foundry Bancorp (NASDAQ:BLFY) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 620,472 shares of the company’s stock after selling 8,528 shares during the period. Essex Financial Services Inc.’s holdings in Blue Foundry Bancorp were worth $6,229,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC lifted its position in shares of Blue Foundry Bancorp by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock valued at $433,000 after buying an additional 3,000 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Blue Foundry Bancorp during the first quarter worth $32,000. Round Hill Asset Management lifted its holdings in Blue Foundry Bancorp by 32.8% during the first quarter. Round Hill Asset Management now owns 21,234 shares of the company’s stock valued at $199,000 after purchasing an additional 5,248 shares in the last quarter. Wittenberg Investment Management Inc. grew its position in shares of Blue Foundry Bancorp by 18.5% in the first quarter. Wittenberg Investment Management Inc. now owns 40,782 shares of the company’s stock valued at $382,000 after purchasing an additional 6,378 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Blue Foundry Bancorp by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 74,637 shares of the company’s stock valued at $677,000 after purchasing an additional 9,303 shares during the period. 56.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blue Foundry Bancorp

In other Blue Foundry Bancorp news, Director Robert Thomas Goldstein sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $10.79, for a total value of $37,765.00. Following the transaction, the director now directly owns 39,283 shares of the company’s stock, valued at $423,863.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BLFY has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price target on shares of Blue Foundry Bancorp from $8.00 to $9.25 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler increased their target price on Blue Foundry Bancorp from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Monday, July 29th.

Blue Foundry Bancorp Trading Down 2.0 %

Shares of BLFY stock opened at $9.66 on Friday. Blue Foundry Bancorp has a fifty-two week low of $7.23 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s fifty day moving average is $10.39 and its two-hundred day moving average is $9.72. The firm has a market capitalization of $229.03 million, a P/E ratio of -24.15 and a beta of 0.54.

Blue Foundry Bancorp (NASDAQ:BLFY) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The business had revenue of $21.92 million during the quarter, compared to analyst estimates of $10.26 million. Blue Foundry Bancorp had a negative net margin of 11.29% and a negative return on equity of 2.71%. During the same quarter last year, the company earned ($0.06) earnings per share. Research analysts expect that Blue Foundry Bancorp will post -0.58 earnings per share for the current fiscal year.

Blue Foundry Bancorp Company Profile

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.