Ankündigung • Apr 03
Fulton Financial Corporation (NasdaqGS:FULT) completed the acquisition of Blue Foundry Bancorp (NasdaqGS:BLFY). Fulton Financial Corporation (NasdaqGS:FULT) entered into a definitive merger agreement to acquire Blue Foundry Bancorp (NasdaqGS:BLFY) for approximately $240 million on November 24, 2025. Under the terms of the definitive merger agreement, each share of Blue Foundry common stock will be exchanged for 0.65 shares of Fulton common stock. Based on Fulton’s share price as of November 21, 2025, the transaction is valued at approximately $243 million, or $11.67 per share of Blue Foundry common stock. Following the closing, Blue Foundry Bank, the wholly owned subsidiary of Blue Foundry, will merge into Fulton Bank, N.A., the wholly owned bank subsidiary of Fulton, with Fulton Bank as the surviving bank. A termination fee of $9.7 million will be paid by Blue Foundry Bank.
The transaction is subject to customary closing conditions, including regulatory approvals, approval by Blue Foundry's stockholders and the effectiveness of the registration statement. The boards of directors of both Fulton and Blue Foundry have unanimously approved the definitive merger agreement and it is expected to close in the second quarter of 2026. As of December 12, 2025, Fulton filed for registration statement. The transaction is expected to be accretive to first full-year earnings by over 5%, immediately accretive to tangible book value per share and neutral to regulatory capital ratios at close. As of January 29, 2026, Blue Foundry Bancorp shareholders approved the transaction. As of February 19, 2026 the transaction has been approved by The Federal Reserve Board. As on February 23, 2026, the transaction has received all required regulatory approvals and is expected to close on or around April 1, 2026.
Frank Sorrentino VI, Thad Olchowski, Annie Shelley and Tyler Klaus of Stephens Inc. acted as financial advisor for Fulton Financial Corporation. Holland & Knight LLP acted as legal advisor for Fulton Financial Corporation. Piper Sandler & Co. acted as financial advisor and fairness provider for Blue Foundry Bancorp. Luse Gorman, P.C acted as legal advisor for Blue Foundry Bancorp. Fulton Financial Advisors acted as transfer agent to Fulton Financial. Georgeson acted as proxy solicitor to Blue Foundry. PSC’s fee was approximately $3.57 million. PSC also received a $750,000 fee from Blue Foundry upon rendering its opinion.
Fulton Financial Corporation (NasdaqGS:FULT) completed the acquisition of Blue Foundry Bancorp (NasdaqGS:BLFY) on April 1, 2026. Ankündigung • Apr 02
Blue Foundry Bancorp Requests Nasdaq to Withdraw its Common Stock from Listing on Nasdaq Prior to the Opening of Trading on April 1, 2026 Blue Foundry Bancorp notified the Nasdaq Global Select Market (Nasdaq) that the Merger had closed and requested that Nasdaq (i) suspend trading in Blue Foundry Common Stock prior to the opening of trading on April 1, 2026, (ii) withdraw Blue Foundry Common Stock from listing on Nasdaq prior to the opening of trading on April 1, 2026, and (iii) file with the Securities and Exchange Commission a notification on Form 25 to effect the delisting of all shares of Blue Foundry Common Stock from Nasdaq under Section 12(b) of the Securities Exchange Act of 1934. As a result, Blue Foundry Common Stock is no longer listed on Nasdaq. Fulton, as successor to Blue Foundry, intends to file with the Securities and Exchange Commission as promptly as possible a certification on Form 15 requesting the termination of the registration of Blue Foundry Common Stock under Section 12(g) of the Securities Exchange Act and the suspension of Blue Foundry's reporting obligations under Sections 13 and 15(d) of the Securities Exchange Act. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Director John Kuntz was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Ankündigung • Nov 24
Fulton Financial Corporation (NasdaqGS:FULT) entered into a definitive merger agreement to acquire Blue Foundry Bancorp (NasdaqGS:BLFY) for approximately $240 million. Fulton Financial Corporation (NasdaqGS:FULT) entered into a definitive merger agreement to acquire Blue Foundry Bancorp (NasdaqGS:BLFY) for approximately $240 million on November 24, 2025. Under the terms of the definitive merger agreement, each share of Blue Foundry common stock will be exchanged for 0.65 shares of Fulton common stock. Based on Fulton’s share price as of November 21, 2025, the transaction is valued at approximately $243 million, or $11.67 per share of Blue Foundry common stock. Following the closing, Blue Foundry Bank, the wholly owned subsidiary of Blue Foundry, will merge into Fulton Bank, N.A., the wholly owned bank subsidiary of Fulton, with Fulton Bank as the surviving bank.
The boards of directors of both Fulton and Blue Foundry have unanimously approved the definitive merger agreement. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions, including regulatory approvals and approval by Blue Foundry's stockholders. The transaction is expected to be accretive to first full-year earnings by over 5%, immediately accretive to tangible book value per share and neutral to regulatory capital ratios at close.
Frank Sorrentino VI, Thad Olchowski, Annie Shelley and Tyler Klaus of Stephens Inc. acted as financial advisor for Fulton Financial Corporation. Holland & Knight LLP acted as legal advisor for Fulton Financial Corporation. Piper Sandler & Co. acted as financial advisor for Blue Foundry Bancorp. Luse Gorman, P.C acted as legal advisor for Blue Foundry Bancorp. Reported Earnings • Oct 30
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: US$0.096 loss per share (improved from US$0.19 loss in 3Q 2024). Revenue: US$12.0m (up 30% from 3Q 2024). Net loss: US$1.87m (loss narrowed 54% from 3Q 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 5.3%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Ankündigung • Oct 30
Blue Foundry Bancorp Announces Net Charge-Offs for the Three Months Ended September 30, 2025 Blue Foundry Bancorp announced Net charge-offs for the three months ended September 30, 2025. The company reported net charge-offs for the three months of $25,000. Ankündigung • Oct 08
Blue Foundry Bancorp to Report Q3, 2025 Results on Oct 29, 2025 Blue Foundry Bancorp announced that they will report Q3, 2025 results on Oct 29, 2025 Major Estimate Revision • Aug 06
Consensus EPS estimates upgraded to US$0.41 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -US$0.465 to -US$0.41 per share. Revenue forecast steady at US$48.3m. Banks industry in the US expected to see average net income growth of 15% next year. Consensus price target of US$9.88 unchanged from last update. Share price was steady at US$8.58 over the past week. Reported Earnings • Jul 31
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: US$0.099 loss per share (improved from US$0.11 loss in 2Q 2024). Revenue: US$11.6m (up 6.5% from 2Q 2024). Net loss: US$1.96m (loss narrowed 17% from 2Q 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Ankündigung • Jul 09
Blue Foundry Bancorp to Report Q2, 2025 Results on Jul 30, 2025 Blue Foundry Bancorp announced that they will report Q2, 2025 results on Jul 30, 2025 Reported Earnings • May 01
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$0.13 loss per share. Revenue: US$10.9m (up 5.1% from 1Q 2024). Net loss: US$2.69m (loss narrowed 5.2% from 1Q 2024). Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Ankündigung • Apr 16
Blue Foundry Bancorp to Report Q1, 2025 Results on Apr 30, 2025 Blue Foundry Bancorp announced that they will report Q1, 2025 results on Apr 30, 2025 Ankündigung • Apr 12
Blue Foundry Bancorp, Annual General Meeting, May 15, 2025 Blue Foundry Bancorp, Annual General Meeting, May 15, 2025. Reported Earnings • Mar 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: US$0.56 loss per share (further deteriorated from US$0.31 loss in FY 2023). Revenue: US$40.7m (down 7.9% from FY 2023). Net loss: US$11.9m (loss widened 61% from FY 2023). Net interest margin (NIM): 1.90% (down from 2.09% in FY 2023). Cost-to-income ratio: 133.7% (up from 117.9% in FY 2023). Non-performing loans: 0.32% (down from 0.39% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 29
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: US$0.56 loss per share (further deteriorated from US$0.31 loss in FY 2023). Revenue: US$40.7m (down 7.9% from FY 2023). Net loss: US$11.9m (loss widened 61% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Ankündigung • Jan 15
Blue Foundry Bancorp to Report Q4, 2024 Results on Jan 29, 2025 Blue Foundry Bancorp announced that they will report Q4, 2024 results on Jan 29, 2025 Reported Earnings • Oct 23
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.19 loss per share (further deteriorated from US$0.062 loss in 3Q 2023). Revenue: US$9.23m (down 16% from 3Q 2023). Net loss: US$4.04m (loss widened 182% from 3Q 2023). Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 8.6%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Ankündigung • Oct 09
Blue Foundry Bancorp to Report Q3, 2024 Results on Oct 23, 2024 Blue Foundry Bancorp announced that they will report Q3, 2024 results on Oct 23, 2024 Major Estimate Revision • Aug 01
Consensus estimates of losses per share improve by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$39.1m to US$40.5m. EPS estimate increased from -US$0.74 per share to -US$0.59 per share. Banks industry in the US expected to see average net income growth of 8.5% next year. Consensus price target up from US$8.75 to US$10.63. Share price was steady at US$11.29 over the past week. Price Target Changed • Jul 26
Price target increased by 7.1% to US$9.38 Up from US$8.75, the current price target is an average from 2 analysts. New target price is 18% below last closing price of US$11.40. Stock is up 11% over the past year. The company is forecast to post a net loss per share of US$0.60 next year compared to a net loss per share of US$0.31 last year. Reported Earnings • Jul 25
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: US$0.11 loss per share (further deteriorated from US$0.075 loss in 2Q 2023). Revenue: US$10.9m (down 2.4% from 2Q 2023). Net loss: US$2.34m (loss widened 28% from 2Q 2023). Revenue exceeded analyst estimates by 7.1%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 154% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Ankündigung • Jul 11
Blue Foundry Bancorp to Report Q2, 2024 Results on Jul 24, 2024 Blue Foundry Bancorp announced that they will report Q2, 2024 results on Jul 24, 2024 Price Target Changed • Jun 25
Price target decreased by 7.9% to US$8.75 Down from US$9.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$8.40. Stock is down 18% over the past year. The company is forecast to post a net loss per share of US$0.74 next year compared to a net loss per share of US$0.31 last year. Reported Earnings • Apr 25
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: US$0.13 loss per share (further deteriorated from US$0.048 loss in 1Q 2023). Revenue: US$10.4m (down 16% from 1Q 2023). Net loss: US$2.84m (loss widened 135% from 1Q 2023). Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Price Target Changed • Apr 25
Price target decreased by 10.0% to US$9.00 Down from US$10.00, the current price target is an average from 2 analysts. New target price is 5.5% above last closing price of US$8.53. Stock is down 13% over the past year. The company is forecast to post a net loss per share of US$0.74 next year compared to a net loss per share of US$0.31 last year. Ankündigung • Apr 24
Blue Foundry Bancorp Reports Net Charge-Offs for the First Quarter Ended March 31, 2024 Blue Foundry Bancorp reported net charge-offs for the first quarter ended March 31, 2024. Net charge-offs were $9,000 for the quarter ended March 31, 2024. Ankündigung • Apr 16
Blue Foundry Bancorp, Annual General Meeting, May 16, 2024 Blue Foundry Bancorp, Annual General Meeting, May 16, 2024, at 10:00 US Eastern Standard Time. Agenda: To consider the election as directors of the two nominees specified in the accompanying proxy statement; to consider ratification of the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2024; to consider Shareholder Non-Binding Proposal Recommending Sale or Merger of the Company, if properly presented; and against such other matters as may properly come before the annual meeting, or any adjournments thereof. Ankündigung • Apr 11
Blue Foundry Bancorp to Report Q1, 2024 Results on Apr 24, 2024 Blue Foundry Bancorp announced that they will report Q1, 2024 results on Apr 24, 2024 Reported Earnings • Mar 29
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: US$0.31 loss per share (down from US$0.092 profit in FY 2022). Revenue: US$44.2m (down 20% from FY 2022). Net loss: US$7.40m (down 409% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Ankündigung • Jan 31
Blue Foundry Bancorp Announces Resignation of Elizabeth Miller as Executive Vice President and Chief Retail Officer On January 24, 2024, Blue Foundry Bancorp accepted the resignation of Executive Vice President and Chief Retail Officer Elizabeth Miller, effective immediately. Major Estimate Revision • Jan 31
Consensus EPS estimates fall by 12%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$38.1m to US$38.9m. Forecast EPS reduced from -US$0.725 to -US$0.81 per share. Banks industry in the US expected to see average net income decline 4.8% next year. Consensus price target up from US$9.50 to US$10.00. Share price rose 4.1% to US$10.07 over the past week. Reported Earnings • Jan 25
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: US$0.31 loss per share (down from US$0.092 profit in FY 2022). Revenue: US$44.2m (down 20% from FY 2022). Net loss: US$7.40m (down 409% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Banks industry in the US. Ankündigung • Jan 11
Blue Foundry Bancorp to Report Q4, 2023 Results on Jan 24, 2024 Blue Foundry Bancorp announced that they will report Q4, 2023 results on Jan 24, 2024 Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Director Liz Jobes was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Dec 13
Price target increased by 9.2% to US$8.88 Up from US$8.13, the current price target is an average from 2 analysts. New target price is 5.3% below last closing price of US$9.37. Stock is down 25% over the past year. The company is forecast to post a net loss per share of US$0.33 compared to earnings per share of US$0.092 last year. Price Target Changed • Oct 31
Price target decreased by 7.1% to US$8.13 Down from US$8.75, the current price target is an average from 2 analysts. New target price is 7.6% above last closing price of US$7.55. Stock is down 39% over the past year. The company is forecast to post a net loss per share of US$0.33 compared to earnings per share of US$0.092 last year. Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: US$0.062 loss per share (down from US$0.047 profit in 3Q 2022). Revenue: US$11.0m (down 27% from 3Q 2022). Net loss: US$1.43m (down 215% from profit in 3Q 2022). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates by 48%. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 4.3%. Ankündigung • Oct 26
Blue Foundry Bancorp Reports Net Charge-Offs for the Third Quarter Ended September 30, 2023 Blue Foundry Bancorp reported net charge-offs for the third quarter ended September 30, 2023. For the quarter, the company reported net charge-offs were $26,000. Ankündigung • Oct 12
Blue Foundry Bancorp to Report Q3, 2023 Results on Oct 25, 2023 Blue Foundry Bancorp announced that they will report Q3, 2023 results on Oct 25, 2023 Price Target Changed • Sep 26
Price target decreased by 7.5% to US$9.25 Down from US$10.00, the current price target is an average from 2 analysts. New target price is 11% above last closing price of US$8.35. Stock is down 26% over the past year. The company is forecast to post a net loss per share of US$0.38 compared to earnings per share of US$0.092 last year. Major Estimate Revision • Aug 02
Consensus EPS estimates upgraded to US$0.37 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$0.435 to -US$0.37 per share. Revenue forecast unchanged from US$44.9m at last update. Banks industry in the US expected to see average net income decline 10% next year. Consensus price target up from US$9.75 to US$10.00. Share price rose 2.3% to US$10.26 over the past week. Ankündigung • Jul 27
Blue Foundry Bancorp Reports Net Charge-Offs for the Second Quarter Ended June 30, 2023 Blue Foundry Bancorp reported net charge-offs for the second quarter ended June 30, 2023. Net charge-offs were $13,000 for the quarter ended June 30, 2023. New Risk • Jul 27
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$1.2m Forecast net loss in 1 year: US$11m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 78% per year for the foreseeable future. Minor Risk Currently unprofitable and not forecast to become profitable next year (US$11m net loss next year). Reported Earnings • Jul 26
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: US$0.075 loss per share (down from US$0.002 profit in 2Q 2022). Revenue: US$11.1m (down 15% from 2Q 2022). Net loss: US$1.83m (down US$1.87m from profit in 2Q 2022). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) exceeded analyst estimates by 27%. Revenue is expected to decline by 3.7% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 4.4%. Ankündigung • Jul 13
Blue Foundry Bancorp to Report Q2, 2023 Results on Jul 26, 2023 Blue Foundry Bancorp announced that they will report Q2, 2023 results on Jul 26, 2023 Price Target Changed • May 17
Price target decreased by 8.3% to US$10.55 Down from US$11.50, the current price target is an average from 3 analysts. New target price is 17% above last closing price of US$8.99. Stock is down 25% over the past year. The company is forecast to post a net loss per share of US$0.39 compared to earnings per share of US$0.092 last year. Price Target Changed • Apr 08
Price target decreased by 15% to US$11.50 Down from US$13.50, the current price target is an average from 2 analysts. New target price is 19% above last closing price of US$9.67. Stock is down 27% over the past year. The company is forecast to post a net loss per share of US$0.24 compared to earnings per share of US$0.092 last year. Reported Earnings • Apr 02
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: US$0.092 (up from US$2.99 loss in FY 2021). Revenue: US$55.5m (up 16% from FY 2021). Net income: US$2.40m (up US$38.7m from FY 2021). Profit margin: 4.3% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Net interest margin (NIM): 2.73% (up from 2.20% in FY 2021). Cost-to-income ratio: 96.8% (down from 164.4% in FY 2021). Non-performing loans: 0.50% (down from 0.94% in FY 2021). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is expected to decline by 1.2% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 6.6%. Recent Insider Transactions • Feb 02
Insider recently bought US$58k worth of stock On the 30th of January, Robert Rowe bought around 5k shares on-market at roughly US$11.62 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$642k more in shares than they have sold in the last 12 months. Reported Earnings • Jan 26
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: US$0.092 (up from US$2.99 loss in FY 2021). Revenue: US$55.5m (up 16% from FY 2021). Net income: US$2.40m (up US$38.7m from FY 2021). Profit margin: 4.3% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Net interest margin (NIM): 2.73% (up from 2.20% in FY 2021). Non-performing loans: 0.50% (down from 0.94% in FY 2021). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Mortgage industry in the US. Ankündigung • Jan 12
Blue Foundry Bancorp to Report Q4, 2022 Results on Jan 25, 2023 Blue Foundry Bancorp announced that they will report Q4, 2022 results on Jan 25, 2023 Ankündigung • Jan 06
Blue Foundry Bancorp Names Elizabeth Varki Jobes, Esq. to Board of Directors Blue Foundry Bancorp announced the appointment of Elizabeth Varki Jobes, Esq. as a Director, effective immediately. Ms. Jobes serves as Senior Vice President and Global Chief Compliance Officer of Amryt Pharmaceuticals, a global commercial-stage pharmaceutical company, since 2020. Before joining Amryt, Jobes served as Senior Vice President and Chief Compliance Officer of North America at EMD Serono. Ms. Jobes also served in leadership roles at Spark Therapeutics, Auxilium Pharmaceutical, and Cephalon. Prior to her career in the pharmaceuticals industry, Jobes held various roles within Philadelphia’s District Attorney’s Office from 1991 to 2006. Ms. Jobes’ service on several boards demonstrates her invaluable leadership skills. She currently serves on the board of Ampio Pharmaceuticals, a public company, as well as the board of a private biopharmaceutical company (Eyam Vaccines and Immunotherapeutics), and the board of a not-for-profit organization. Ms. Jobes is a member of the South Asian Bar Association and was a former board member of Women’s Way. She received her law degree from Rutgers University School of Law and is licensed to practice in both New Jersey and Pennsylvania. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Mirella Lang was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 26
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: US$0.047 (up from US$0.68 loss in 3Q 2021). Revenue: US$15.0m (up 26% from 3Q 2021). Net income: US$1.24m (up US$16.2m from 3Q 2021). Profit margin: 8.3% (up from net loss in 3Q 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Mortgage industry in the US. Price Target Changed • Aug 30
Price target decreased to US$13.63 Down from US$15.00, the current price target is an average from 2 analysts. New target price is 20% above last closing price of US$11.38. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$0.03 next year compared to a net loss per share of US$2.99 last year. Price Target Changed • Aug 02
Price target decreased to US$14.00 Down from US$16.00, the current price target is provided by 1 analyst. New target price is 20% above last closing price of US$11.67. Stock is down 6.6% over the past year. The company is forecast to post earnings per share of US$0.03 next year compared to a net loss per share of US$2.99 last year. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.002 (vs US$10.03 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.002 (up from US$10.03 loss in 2Q 2021). Revenue: US$13.1m (up 18% from 2Q 2021). Net income: US$40.0k (up US$1.04m from 2Q 2021). Profit margin: 0.3% (up from net loss in 2Q 2021). Ankündigung • Jul 28
Blue Foundry Bancorp Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022 Blue Foundry Bancorp reported net charge-offs for the second quarter ended June 30, 2022. Net charge-offs were $9,000 for the quarter ended June 30, 2022 and $17,000 for the six months ended June 30, 2022. Ankündigung • Jul 19
Blue Foundry Bancorp, Annual General Meeting, Aug 25, 2022 Blue Foundry Bancorp, Annual General Meeting, Aug 25, 2022, at 10:00 US Eastern Standard Time. Agenda: To consider the election of three directors; to consider the ratification of the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2022; to consider the approval of the Blue Foundry Bancorp 2022 Equity Incentive Plan; and to consider other matters. Ankündigung • Jul 07
Blue Foundry Bancorp to Report Q2, 2022 Results on Jul 27, 2022 Blue Foundry Bancorp announced that they will report Q2, 2022 results on Jul 27, 2022 Ankündigung • Jun 25
Blue Foundry Bancorp Announces Resignation of Brent Ciurlino as Executive Vice President and Chief Risk Officer of Blue Foundry Bancorp and Blue Foundry Bank On June 17, 2022, Brent Ciurlino, Executive Vice President and Chief Risk Officer of Blue Foundry Bancorp and its wholly owned subsidiary, Blue Foundry Bank (collectively, the “Company”), notified the Company of his intention to resign his positions with the Company in order to accept an executive position at an international private equity based financial organization located in another region of the country. He will remain with the Company through July 29, 2022 to assist in transitioning. Mr. Ciurlino's resignation is not the result of any dispute or disagreement with the Company. Recent Insider Transactions • Jun 22
Independent Chairman of the Board recently bought US$200k worth of stock On the 17th of June, Kenneth Grimbilas bought around 17k shares on-market at roughly US$11.75 per share. This was the largest purchase by an insider in the last 3 months. This was Kenneth's only on-market trade for the last 12 months. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: US$0.021 (vs US$7.45 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.021 (up from US$7.45 loss in 1Q 2021). Revenue: US$13.8m (up 25% from 1Q 2021). Net income: US$553.0k (up US$1.30m from 1Q 2021). Profit margin: 4.0% (up from net loss in 1Q 2021). Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Mirella Lang was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 26
Blue Foundry Bancorp Appoints Kelly Pecoraro as Chief Financial Officer, Effective May 18, 2022 Blue Foundry Bancorp announced that Kelly Pecoraro will be joining Blue Foundry Bancorp on May 9, 2022. Subsequently, Ms. Pecoraro is expected to be appointed as the Company’s Chief Financial Officer on May 18, 2022 at the May meeting of the Company’s Board of Directors. Prior to joining Investors Bank, Ms. Pecoraro served as an audit professional at KPMG. Ms. Pecoraro is a Certified Public Accountant.