Los Angeles Capital Management LLC Invests $654,000 in Blue Foundry Bancorp $BLFY

Los Angeles Capital Management LLC purchased a new stake in shares of Blue Foundry Bancorp (NASDAQ:BLFY) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 68,300 shares of the company’s stock, valued at approximately $654,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its holdings in Blue Foundry Bancorp by 2.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,905,977 shares of the company’s stock worth $26,735,000 after buying an additional 59,081 shares in the last quarter. Essex Financial Services Inc. grew its stake in shares of Blue Foundry Bancorp by 5.8% during the second quarter. Essex Financial Services Inc. now owns 659,823 shares of the company’s stock valued at $6,315,000 after acquiring an additional 35,998 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Blue Foundry Bancorp during the first quarter worth about $3,198,000. Strs Ohio purchased a new stake in shares of Blue Foundry Bancorp during the first quarter worth about $477,000. Finally, Trexquant Investment LP lifted its stake in shares of Blue Foundry Bancorp by 24.0% in the first quarter. Trexquant Investment LP now owns 39,983 shares of the company’s stock worth $368,000 after acquiring an additional 7,732 shares in the last quarter. Hedge funds and other institutional investors own 56.52% of the company’s stock.

Blue Foundry Bancorp Stock Performance

Shares of BLFY stock opened at $8.12 on Friday. The stock has a market capitalization of $174.58 million, a price-to-earnings ratio of -17.65 and a beta of 0.59. Blue Foundry Bancorp has a one year low of $7.92 and a one year high of $11.38. The company’s 50-day simple moving average is $8.81 and its 200-day simple moving average is $9.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.21 and a current ratio of 1.21.

Blue Foundry Bancorp (NASDAQ:BLFY) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). Blue Foundry Bancorp had a negative return on equity of 2.82% and a negative net margin of 9.82%.The firm had revenue of $12.61 million during the quarter, compared to analyst estimates of $12.35 million. Equities analysts anticipate that Blue Foundry Bancorp will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Blue Foundry Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blue Foundry Bancorp in a research report on Thursday, October 30th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $10.00.

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.