International Assets Investment Management LLC Invests $2 Million in Blue Foundry Bancorp (NASDAQ:BLFY)

International Assets Investment Management LLC purchased a new stake in shares of Blue Foundry Bancorp (NASDAQ:BLFY) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 20,500 shares of the company’s stock, valued at approximately $2,000,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Blue Foundry Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,340,909 shares of the company’s stock valued at $12,551,000 after purchasing an additional 33,150 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Blue Foundry Bancorp by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 856,285 shares of the company’s stock valued at $7,766,000 after buying an additional 61,335 shares during the period. Essex Financial Services Inc. grew its position in shares of Blue Foundry Bancorp by 2.8% during the 2nd quarter. Essex Financial Services Inc. now owns 631,662 shares of the company’s stock valued at $5,729,000 after buying an additional 17,069 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Blue Foundry Bancorp by 14.2% during the second quarter. Bank of New York Mellon Corp now owns 74,637 shares of the company’s stock worth $677,000 after acquiring an additional 9,303 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Blue Foundry Bancorp by 6.7% in the second quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock worth $433,000 after acquiring an additional 3,000 shares during the last quarter. 56.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BLFY shares. Piper Sandler upped 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. Keefe, Bruyette & Woods increased their target price on Blue Foundry Bancorp from $8.00 to $9.25 and gave the stock a “market perform” rating in a research report on Thursday, July 25th.

Blue Foundry Bancorp Trading Up 1.2 %

Blue Foundry Bancorp stock opened at $9.95 on Monday. Blue Foundry Bancorp has a 52-week low of $7.48 and a 52-week high of $11.48. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $230.94 million, a price-to-earnings ratio of -17.77 and a beta of 0.54. The firm has a 50-day moving average price of $10.34 and a two-hundred day moving average price of $9.77.

Blue Foundry Bancorp (NASDAQ:BLFY) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.19) earnings per share (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 the consensus estimate of $10.26 million. Blue Foundry Bancorp had a negative return on equity of 3.47% and a negative net margin of 14.14%. During the same period last year, the company earned ($0.06) earnings per share. Sell-side analysts expect that Blue Foundry Bancorp will post -0.58 earnings per share for the current year.

Insider Activity at Blue Foundry Bancorp

In related news, Director Robert Thomas Goldstein sold 3,500 shares of the business’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 sale, the director now directly owns 39,283 shares in the company, valued at $423,863.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.98% of the stock is currently owned by insiders.

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.