Geode Capital Management LLC Sells 17,356 Shares of Blue Foundry Bancorp (NASDAQ:BLFY)

Geode Capital Management LLC lowered its stake in Blue Foundry Bancorp (NASDAQ:BLFY) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 451,586 shares of the company’s stock after selling 17,356 shares during the quarter. Geode Capital Management LLC owned approximately 1.95% of Blue Foundry Bancorp worth $4,629,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Blue Foundry Bancorp by 14.2% in the 2nd 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 last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Blue Foundry Bancorp by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 856,285 shares of the company’s stock worth $7,766,000 after buying an additional 61,335 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Blue Foundry Bancorp by 6.7% during the second quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock worth $433,000 after buying an additional 3,000 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Blue Foundry Bancorp in the 2nd quarter valued at $225,000. Finally, International Assets Investment Management LLC bought a new stake in Blue Foundry Bancorp during the 3rd quarter worth $2,000,000. 56.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their target price on Blue Foundry Bancorp from $9.75 to $11.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Blue Foundry Bancorp Trading Down 1.3 %

Shares of NASDAQ BLFY opened at $9.36 on Monday. The firm has a 50 day moving average price of $10.54 and a two-hundred day moving average price of $10.30. The stock has a market cap of $213.37 million, a P/E ratio of -16.71 and a beta of 0.60. Blue Foundry Bancorp has a 52-week low of $7.90 and a 52-week high of $11.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.23.

Blue Foundry Bancorp (NASDAQ:BLFY) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Blue Foundry Bancorp had a negative return on equity of 3.50% and a negative net margin of 14.14%. The company had revenue of $21.92 million for the quarter, compared to the consensus estimate of $10.26 million. During the same period in the prior year, the business earned ($0.06) earnings per share. As a group, equities analysts forecast that Blue Foundry Bancorp will post -0.6 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.