Bimini Capital Management (OTCMKTS:BMNM) Posts Earnings Results

Bimini Capital Management (OTCMKTS:BMNM) posted its quarterly earnings results on Thursday. The financial services provider reported $0.08 earnings per share 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 Price Performance

Shares of OTCMKTS:BMNM traded up $0.15 on Thursday, reaching $2.80. 5,001 shares of the company were exchanged, compared to its average volume of 4,624. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 2.17. Bimini Capital Management has a 1-year low of $0.60 and a 1-year high of $3.89. The firm has a market cap of $28.20 million, a price-to-earnings ratio of 4.83 and a beta of 0.14. The company has a 50-day moving average of $2.94 and a 200-day moving average of $2.56.

Bimini Capital Management declared that its board has authorized a share buyback program on Thursday, March 12th that authorizes the company to buyback $2.50 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.