Blue Foundry Bancorp Initiates Sixth Stock Buyback Program

In a strategic move to enhance shareholder value, Blue Foundry Bancorp has launched its sixth stock repurchase program, targeting the acquisition of up to 5% of its outstanding shares. This initiative, announced on June 23, 2025, underscores the company’s commitment to returning value to its shareholders and reflects confidence in its financial health and future prospects.

The program, which commenced on June 20, 2025, authorizes the repurchase of approximately 1,082,533 shares. This decision follows the successful completion of five previous buyback programs since July 2022, during which the company repurchased 7,798,723 shares, representing 27.3% of its common stock, at an average price of $10.09 per share. Notably, the company’s tangible book value per share stood at $14.81 as of March 31, 2025, indicating that the repurchases are being executed at a significant discount to the book value, a testament to the company’s prudent financial management.

Blue Foundry Bancorp, a financial institution operating in the United States, offers a comprehensive suite of banking services, including savings and checking accounts, consumer and business loans, credit and debit cards, and online and mobile banking solutions. Listed on the Nasdaq stock exchange, the company has demonstrated resilience and adaptability in the dynamic financial sector.

The latest stock repurchase program is a strategic maneuver aimed at optimizing the company’s capital structure and enhancing shareholder value. By repurchasing shares, Blue Foundry Bancorp not only signals its confidence in the intrinsic value of its stock but also aims to improve key financial metrics, such as earnings per share, by reducing the number of shares outstanding.

The repurchase program is designed to be flexible, allowing for the acquisition of shares through open market transactions or private deals, depending on prevailing market conditions and other relevant factors. This approach provides the company with the agility to navigate market volatility and capitalize on opportunities to repurchase shares at favorable prices.

As Blue Foundry Bancorp continues to execute its strategic initiatives, the stock repurchase program stands as a clear indicator of the company’s commitment to its shareholders and its optimistic outlook on future growth. With a market capitalization of $192.66 million and a recent close price of $8.86 as of June 19, 2025, the company is poised to leverage its financial strength to drive long-term value creation.

In conclusion, Blue Foundry Bancorp’s sixth stock repurchase program is a strategic step forward, reflecting the company’s robust financial position and its dedication to enhancing shareholder value. As the company navigates the evolving financial landscape, its proactive measures, including this buyback initiative, underscore its commitment to maintaining a strong capital position and delivering sustainable growth.