Essex Financial Services Inc. Cuts Stock Position in Blue Foundry Bancorp $BLFY

Essex Financial Services Inc. lessened its stake in shares of Blue Foundry Bancorp (NASDAQ:BLFY) by 48.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 326,231 shares of the company’s stock after selling 302,624 shares during the period. Essex Financial Services Inc. owned 1.57% of Blue Foundry Bancorp worth $4,055,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Blue Foundry Bancorp by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 431,677 shares of the company’s stock valued at $4,132,000 after acquiring an additional 1,780 shares during the last quarter. ABC Arbitrage SA bought a new position in shares of Blue Foundry Bancorp in the 4th quarter valued at about $2,496,000. Mangrove Partners IM LLC lifted its stake in Blue Foundry Bancorp by 5.5% in the third quarter. Mangrove Partners IM LLC now owns 194,201 shares of the company’s stock worth $1,765,000 after purchasing an additional 10,138 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Blue Foundry Bancorp in the second quarter worth about $1,290,000. Finally, Strs Ohio lifted its stake in Blue Foundry Bancorp by 12.9% in the third quarter. Strs Ohio now owns 60,200 shares of the company’s stock worth $547,000 after purchasing an additional 6,900 shares during the last quarter. Institutional investors own 56.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Blue Foundry Bancorp in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Blue Foundry Bancorp Price Performance

NASDAQ BLFY opened at $13.24 on Friday. Blue Foundry Bancorp has a 12-month low of $7.61 and a 12-month high of $14.74. The firm’s fifty day simple moving average is $13.18 and its two-hundred day simple moving average is $12.67. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $274.88 million, a P/E ratio of -28.78 and a beta of 0.55.

Blue Foundry Bancorp Company Profile

Blue Foundry Bancorp, Inc (NASDAQ: BLFY) is a bank holding company headquartered in Paramus, New Jersey, serving the Greater New York metropolitan area. Through its wholly owned subsidiary, Blue Foundry Bank, the company offers a full suite of deposit products, including personal and business checking and savings accounts, certificates of deposit, and a robust online and mobile banking platform.

In addition to deposit accounts, Blue Foundry Bancorp provides a range of lending solutions designed for both individual and commercial clients.