Blue Foundry Bancorp (NASDAQ:BLFY) Downgraded by Wall Street Zen 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 issued on Monday.

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

Blue Foundry Bancorp Stock Performance

BLFY stock opened at $8.12 on Monday. The stock’s fifty day moving average is $8.81 and its two-hundred day moving average is $9.10. The stock has a market capitalization of $174.55 million, a price-to-earnings ratio of -17.65 and a beta of 0.59. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.17 and a current ratio of 1.17. Blue Foundry Bancorp has a 1 year low of $7.92 and a 1 year high of $11.38.

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

Institutional Investors Weigh In On Blue Foundry Bancorp

Several large investors have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Blue Foundry Bancorp in the first quarter valued at approximately $3,198,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Blue Foundry Bancorp during the 2nd quarter valued at $1,290,000. Los Angeles Capital Management LLC acquired a new stake in shares of Blue Foundry Bancorp in the 2nd quarter valued at $654,000. T. Rowe Price Investment Management Inc. boosted its holdings in Blue Foundry Bancorp by 2.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,905,977 shares of the company’s stock worth $26,735,000 after purchasing an additional 59,081 shares in the last quarter. Finally, Strs Ohio acquired a new position in Blue Foundry Bancorp during the first quarter worth $477,000. 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.