Bimini Capital Management (OTCMKTS:BMNM) Announces Quarterly Earnings Results

Bimini Capital Management (OTCMKTS:BMNM) issued its quarterly earnings results on Thursday. The financial services provider reported $0.34 earnings per share for the quarter, Zacks reports. Bimini Capital Management had a net margin of 5.98% and a return on equity of 11.89%. The firm had revenue of $4.84 million during the quarter.

Bimini Capital Management Price Performance

BMNM remained flat at $3.11 on Friday. The company’s stock had a trading volume of 754 shares, compared to its average volume of 2,909. The stock’s 50-day moving average is $3.23 and its 200 day moving average is $2.14. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market cap of $31.32 million, a PE ratio of 34.56 and a beta of 0.05. Bimini Capital Management has a 12-month low of $0.60 and a 12-month high of $3.89.

Bimini Capital Management declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 12th that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Bimini Capital Management Company Profile

Bimini Capital Management, Inc, through its subsidiaries, operates as a specialty finance company in the United States. The company operates in two segments, Asset Management and Investment Portfolio. The Asset Management segment includes investment advisory services by Bimini Advisors to Orchid Island Capital, Inc and Royal Palm Capital, LLC. The Investment Portfolio segment engages in investment activities conducted by Royal Palm Capital, LLC. It invests in residential mortgage-backed securities.