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Blue Foundry (BLFY)
NASDAQ:BLFY
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Blue Foundry
(NASDAQ:BLFY)
50Neutral
Blue Foundry (BLFY) vs. S&P 500 (SPY)
Market Cap
$211.78M
Dividend YieldN/A
Average Volume (3M)43.45K
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth7.83%
EPS Growth-77.61%
CountryUS
Employees179
SectorFinancial
Sector Strength77
IndustryBanking
Share Statistics
EPS (TTM)-0.56
Shares Outstanding22,796,274
10 Day Avg. Volume46,922
30 Day Avg. Volume43,452
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)5.28
Price to Cash Flow (P/CF)-14.30
P/FCF Ratio6.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$10.50Price Target Upside13.02% Upside
Rating ConsensusHold
Number of Analyst Covering2
Blue Foundry Business Overview & Revenue Model
Company DescriptionBlue Foundry Bancorp (BLFY) is a bank holding company that primarily operates through its subsidiary, Blue Foundry Bank. The company is headquartered in Rutherford, New Jersey, and focuses on providing a wide range of financial services. Its core offerings include personal and commercial banking products such as checking and savings accounts, loans, and mortgages. The bank serves both individual and business customers, emphasizing community engagement and local market expertise.
How the Company Makes MoneyBlue Foundry Bancorp generates revenue primarily through interest income from its lending activities, including residential and commercial real estate loans, as well as consumer loans such as auto and personal loans. The company also earns money from fees associated with its deposit accounts and other financial services. Additionally, Blue Foundry engages in investment activities to optimize its asset portfolio and enhance earnings. The bank's profitability is influenced by interest rate environments, lending volumes, and its ability to manage credit risk effectively.
Blue Foundry Financial Statement Overview
Summary
Blue Foundry faces significant financial challenges, with negative margins and net losses indicating profitability issues. The balance sheet shows high leverage but is moderately supported by equity. Cash flow struggles highlight operational inefficiencies and cash management issues.Income Statement
The income statement reveals a challenging financial situation for Blue Foundry. The company experienced negative revenue growth and widening net losses over recent periods, with a significant net loss of $12.2 million in the TTM. Margins are notably weak, with negative net profit and EBITDA margins, highlighting operational inefficiencies.40
Negative
Balance Sheet
The balance sheet indicates a relatively high debt level with a debt-to-equity ratio of 1.10 in the TTM, which is a concern for financial stability. However, the company maintains a decent amount of cash and short-term investments. The equity ratio is moderate at 16.5%, suggesting some level of asset support by equity.55
Neutral
Cash Flow
Cash flow analysis shows a company struggling with cash generation. Operating cash flow is negative, and free cash flow has deteriorated further. The free cash flow to net income ratio is unfavorable, pointing to issues in converting income into cash. Despite this, the company managed to maintain some liquidity through investing activities.50
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 73.50M | 43.72M | 54.51M | 45.41M | 28.89M | 45.54M | Gross Profit |
| 73.50M | 43.72M | 54.51M | 45.41M | 28.89M | 45.54M | EBIT |
| 8.56M | -2.12M | 10.64M | -26.72M | -39.37M | 7.32M | EBITDA |
| -4.72M | 0.00 | 5.40M | -24.38M | -37.45M | 9.24M | Net Income Common Stockholders |
| -12.15M | -7.40M | 2.40M | -36.34M | -31.51M | 5.48M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 0.00 | 46.02M | 355.43M | 518.34M | 561.03M | 328.44M | Total Assets |
| 0.00 | 2.04B | 2.04B | 1.91B | 1.94B | 1.85B | Total Debt |
| 0.00 | 424.28M | 337.82M | 212.20M | 354.94M | 296.90M | Net Debt |
| 0.00 | 378.25M | 296.64M | 18.75M | 38.49M | 172.87M | Total Liabilities |
| 0.00 | 1.69B | 1.65B | 212.20M | 354.94M | 296.90M | Stockholders Equity |
| 237.62M | 355.64M | 393.72M | 429.47M | 205.60M | 237.62M |
| Cash Flow | Free Cash Flow | ||||
| -5.38M | -17.69M | -2.58M | -26.04M | -8.55M | 3.23M | Operating Cash Flow |
| -4.17M | -12.12M | 2.78M | -14.14M | -1.25M | 5.43M | Investing Cash Flow |
| 35.91M | 10.30M | -306.24M | -105.33M | 101.39M | -57.71M | Financing Cash Flow |
| -8.03M | 6.66M | 151.19M | -3.52M | 92.27M | 141.86M |
Blue Foundry Technical Analysis
Negative
9.29
Price Trends
9.65
Negative
10.12
Negative
10.03
Negative
Market Momentum
-0.09
Positive
35.04
Neutral
16.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLFY, the sentiment is Negative. The current price of 9.29 is below the 20-day moving average (MA) of 9.73, below the 50-day MA of 9.65, and below the 200-day MA of 10.03, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 35.04 is Neutral, neither overbought nor oversold. The STOCH value of 16.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BLFY.
Blue Foundry Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.67B | 10.39 | 22.65% | 0.28% | 4.68% | 12.30% | |
74 Outperform | $2.39B | 11.58 | 27.24% | ― | 11.72% | 23.37% | |
72 Outperform | $1.51B | 9.45 | 10.44% | ― | -3.61% | -29.58% | |
67 Neutral | $959.66M | 13.97 | 5.68% | 5.02% | 7.79% | -8.83% | |
64 Neutral | $13.80B | 10.64 | 9.23% | 4.22% | 17.66% | -7.66% | |
62 Neutral | $3.18B | 11.71 | 9.69% | 3.95% | 21.10% | -4.20% | |
50 Neutral | $211.78M | ― | -3.46% | ― | 7.83% | -77.61% |
* Financial Sector Average
Performance Comparison
BLFY
Blue Foundry
9.23
0.24
2.67%
BRKL
Brookline Bancorp
10.77
1.58
17.19%
FULT
Fulton Financial
17.24
2.57
17.52%
CASH
Meta Financial Group
70.18
20.51
41.29%
CUBI
Customers Bancorp
48.20
-4.05
-7.75%
TBBK
Bancorp
49.74
13.39
36.84%
Blue Foundry Earnings Call Summary
Earnings Call Date: Jan 29, 2025 | % Change Since: -5.11% | Next Earnings Date: Apr 23, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed view with highlights in loan and deposit growth, improvement in net interest margin, and a strong capital position. However, the company reported a net loss and challenges in achieving corporate goals. The sentiment is balanced, with positive strategic initiatives but financial challenges.Highlights
Loan and Deposit Growth
Loans increased by $32 million, predominantly in commercial portfolios, and deposits grew $25 million, with a 17% increase in non-interest bearing accounts.
Improvement in Net Interest Margin
Net interest income increased by $386,000, leading to a seven basis point improvement in net interest margin.
Strong Capital and Liquidity Position
The bank is well-capitalized with tangible equity to tangible common assets at 16.1%, $408 million in untapped borrowing capacity, and $211 million in additional liquidity.
Share Repurchase Program
Repurchased 481,000 shares at an average price of $10.49, improving shareholder value. To-date, 6.9 million shares repurchased at an average cost of $10.16.
Lowlights
Quarterly Net Loss
Reported a quarterly net loss of $2.7 million and a pre-provision net loss of $3 million.
Challenges in Achieving Corporate Goals
Annual cash incentive plan payout is approximately 60% to 70% of targets as the company did not achieve all corporate goals.
Company Guidance
During Blue Foundry Bancorp's Fourth Quarter 2024 earnings call, the company reported a quarterly net loss of $2.7 million and a pre-provision net loss of $3 million. Despite the loss, loans increased by $32 million, mainly in commercial portfolios, and deposits grew by $25 million, with a notable 17% rise in non-interest bearing accounts. The company funded $59 million in loans with yields of approximately 7.5% and executed letters of intent for over $60 million in commercial credits at yields of 7.7%. Blue Foundry maintained tangible book value at $14.74 per share and repurchased 481,000 shares at an average price of $10.49. The bank remains well-capitalized with a tangible equity to tangible common assets ratio of 16.1% and has robust liquidity, with $408 million in untapped borrowing capacity and $211 million in available liquidity, which is 4.2 times larger than uninsured and uncollateralized deposits.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.