Blue Foundry Bancorp (NASDAQ:BLFY) Short Interest Up 7.8% in June

Blue Foundry Bancorp (NASDAQ:BLFY) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 549,900 shares, an increase of 7.8% from the May 31st total of 509,900 shares. Based on an average trading volume of 44,400 shares, the days-to-cover ratio is currently 12.4 days. Currently, 2.7% of the company’s shares are short sold.

Institutional Trading of Blue Foundry Bancorp

A number of large investors have recently bought and sold shares of BLFY. International Assets Investment Management LLC acquired a new position in shares of Blue Foundry Bancorp in the fourth quarter valued at approximately $2,000,000. Essex Financial Services Inc. boosted its stake in Blue Foundry Bancorp by 0.3% in the 3rd quarter. Essex Financial Services Inc. now owns 596,603 shares of the company’s stock worth $4,994,000 after purchasing an additional 1,545 shares during the period. SG Americas Securities LLC boosted its stake in Blue Foundry Bancorp by 21.8% in the 4th quarter. SG Americas Securities LLC now owns 13,206 shares of the company’s stock worth $128,000 after purchasing an additional 2,365 shares during the period. Wittenberg Investment Management Inc. increased its holdings in Blue Foundry Bancorp by 53.6% during the 4th quarter. Wittenberg Investment Management Inc. now owns 34,404 shares of the company’s stock worth $333,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Blue Foundry Bancorp in the 1st quarter valued at about $505,000. 56.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of Blue Foundry Bancorp from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th.

Blue Foundry Bancorp Price Performance

BLFY opened at $9.12 on Thursday. The stock has a market cap of $216.24 million, a P/E ratio of -22.80 and a beta of 0.54. Blue Foundry Bancorp has a 12 month low of $7.08 and a 12 month high of $10.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. The company has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $9.20.

Blue Foundry Bancorp (NASDAQ:BLFY) last posted its earnings results on Wednesday, April 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $9.30 million. Blue Foundry Bancorp had a negative return on equity of 2.52% and a negative net margin of 10.89%. On average, research analysts expect that Blue Foundry Bancorp will post -0.69 EPS for the current year.

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.