Round Hill Asset Management Trims Stock Position in Blue Foundry Bancorp (NASDAQ:BLFY)

Round Hill Asset Management trimmed its holdings in Blue Foundry Bancorp (NASDAQ:BLFY) by 6.0% during the third quarter, Holdings Channel reports. The institutional investor owned 25,783 shares of the company’s stock after selling 1,650 shares during the period. Round Hill Asset Management’s holdings in Blue Foundry Bancorp were worth $264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLFY. EntryPoint Capital LLC purchased a new stake in shares of Blue Foundry Bancorp during the 1st quarter valued at $32,000. Squarepoint Ops LLC acquired a new position in Blue Foundry Bancorp in the second quarter valued at $225,000. Renaissance Technologies LLC grew its position in Blue Foundry Bancorp by 6.7% during the second quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock valued at $433,000 after acquiring an additional 3,000 shares during the period. Bank of New York Mellon Corp increased 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 last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Blue Foundry Bancorp in the 3rd quarter worth about $2,000,000. Hedge funds and other institutional investors own 56.52% of the company’s stock.

Blue Foundry Bancorp Stock Performance

NASDAQ:BLFY opened at $11.29 on Friday. The firm’s fifty day simple moving average is $10.43 and its 200 day simple moving average is $10.02. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. Blue Foundry Bancorp has a twelve month low of $7.90 and a twelve month high of $11.48. The firm has a market capitalization of $257.37 million, a price-to-earnings ratio of -20.16 and a beta of 0.54.

Blue Foundry Bancorp (NASDAQ:BLFY) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $10.26 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. As a group, equities research analysts expect that Blue Foundry Bancorp will post -0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price on Blue Foundry Bancorp from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Monday, July 29th.

Insider Buying and Selling

In related news, Director Robert Thomas Goldstein sold 3,500 shares of Blue Foundry Bancorp stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $10.79, for a total transaction of $37,765.00. Following the sale, the director now owns 39,283 shares of the company’s stock, valued at $423,863.57. The trade was a 8.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.98% of the stock is currently owned by corporate 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.