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

Bimini Capital Management (OTCMKTS:BMNM) announced its quarterly earnings data on Thursday. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, Zacks reports. Bimini Capital Management had a net margin of 34.35% and a return on equity of 63.32%.

Bimini Capital Management Stock Performance

BMNM traded up $0.15 during trading on Thursday, hitting $2.80. The stock had a trading volume of 5,001 shares, compared to its average volume of 4,624. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $28.20 million, a P/E ratio of 4.83 and a beta of 0.14. The company’s 50-day moving average price is $2.94 and its 200 day moving average price is $2.56. Bimini Capital Management has a twelve month low of $0.60 and a twelve month high of $3.89.

Bimini Capital Management declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 12th that permits the company to repurchase $2.50 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board 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.