Bimini Capital Management (OTCMKTS:BMNM) Announces Earnings Results

Bimini Capital Management (OTCMKTS:BMNM) posted its earnings results on Thursday. The financial services provider reported $0.34 EPS for the quarter, Zacks reports. Bimini Capital Management had a net margin of 34.35% and a return on equity of 72.43%. The firm had revenue of $4.84 million during the quarter.

Bimini Capital Management Stock Performance

Shares of OTCMKTS BMNM opened at $3.10 on Friday. Bimini Capital Management has a 12-month low of $0.60 and a 12-month high of $3.89. The company has a market cap of $31.22 million, a PE ratio of 5.34 and a beta of 0.05. The stock has a 50 day simple moving average of $3.23 and a 200-day simple moving average of $2.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.96.

Bimini Capital Management declared that its Board of Directors has initiated a stock buyback program on Thursday, March 12th that allows the company to buyback $2.50 million in shares. This buyback authorization allows the financial services provider to repurchase up to 7.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

About Bimini Capital Management

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.