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 earnings per share for the quarter, Zacks reports. Bimini Capital Management had a return on equity of 11.89% and a net margin of 5.98%.The company had revenue of $4.84 million for the quarter.

Bimini Capital Management Price Performance

Shares of Bimini Capital Management stock remained flat at $3.11 on Friday. 754 shares of the company traded hands, compared to its average volume of 2,909. The stock has a market cap of $31.32 million, a P/E ratio of 34.56 and a beta of 0.05. Bimini Capital Management has a 1-year low of $0.60 and a 1-year high of $3.89. The business has a 50-day moving average of $3.23 and a two-hundred day moving average of $2.14. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.96.

Bimini Capital Management announced that its board has approved a stock repurchase program on Thursday, March 12th that allows the company to repurchase $2.50 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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.