SoFi CEO enters prepaid forward contract on 1.5 million shares
In a recent transaction, Keith Owes, the Chief Risk Officer of Blue Foundry Bancorp (NASDAQ:BLFY), purchased 1,000 shares of the company’s common stock. The shares were acquired at a price of $9.66 each, resulting in a total transaction value of $9,660. The stock currently trades at $8.78, near its 52-week low of $8.30, with analysts setting price targets between $9.75 and $10.50 for this $172 million market cap company. Following this purchase, Owes now holds a total of 15,500 shares directly. This move indicates a continued investment in the company by its executive. InvestingPro analysis reveals management has been actively buying back shares, suggesting broader confidence in the company’s outlook. Get deeper insights into insider trading patterns and 7 additional key ProTips with InvestingPro.
In other recent news, Blue Foundry Bancorp reported its first-quarter 2025 earnings, revealing a net loss of $2.7 million, which was smaller than expected. The company posted an earnings per share (EPS) of -$0.13, surpassing the forecasted -$0.18, and revenue reached $11.14 million, exceeding expectations of $10.42 million. Additionally, Blue Foundry Bancorp achieved a 13.4% increase in net interest income and expanded its net interest margin by 27 basis points. In other developments, at the company’s recent annual shareholder meeting, four directors were elected, and KPMG LLP was ratified as the independent auditor for the fiscal year ending December 31, 2025. A shareholder proposal recommending the sale or merger of the company was not approved. While the company maintains a strong capital position with 15.6% tangible equity to tangible assets, the stock’s decline suggests market concerns over future profitability. The company anticipates margin expansion in the coming quarters and continues to focus on strategic loan portfolio diversification.
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