Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Blue Foundry Bancorp (NASDAQ:BLFY) Stock

Blue Foundry Bancorp (NASDAQ:BLFY) had its target price upped by equities research analysts at Keefe, Bruyette & Woods from $9.75 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 1.20% from the stock’s current price.

Blue Foundry Bancorp Price Performance

Shares of NASDAQ:BLFY opened at $10.87 on Wednesday. The company’s fifty day moving average is $10.48 and its two-hundred day moving average is $10.12. The company has a market cap of $247.84 million, a P/E ratio of -19.41 and a beta of 0.60. Blue Foundry Bancorp has a 12-month low of $7.90 and a 12-month 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.

Blue Foundry Bancorp (NASDAQ:BLFY) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Blue Foundry Bancorp had a negative net margin of 14.14% and a negative return on equity of 3.50%. The business had revenue of $21.92 million for the quarter, compared to analyst estimates of $10.26 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. Equities analysts expect that Blue Foundry Bancorp will post -0.6 earnings per share for the current fiscal year.

Institutional Trading of Blue Foundry Bancorp

Several institutional investors have recently made changes to their positions in BLFY. Wilmington Savings Fund Society FSB purchased a new stake in Blue Foundry Bancorp in the 3rd quarter worth approximately $71,000. Barclays PLC increased its stake in shares of Blue Foundry Bancorp by 339.3% in the third quarter. Barclays PLC now owns 29,321 shares of the company’s stock worth $301,000 after acquiring an additional 22,647 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Blue Foundry Bancorp during the third quarter worth $210,000. State Street Corp boosted its position in Blue Foundry Bancorp by 0.7% during the third quarter. State Street Corp now owns 479,365 shares of the company’s stock valued at $4,913,000 after purchasing an additional 3,272 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Blue Foundry Bancorp by 30.7% in the third quarter. HighTower Advisors LLC now owns 36,425 shares of the company’s stock valued at $373,000 after purchasing an additional 8,556 shares in the last quarter. 56.52% of the stock is currently owned by institutional investors and hedge funds.

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.