Bimini Capital Stock Price, News & Analysis

Bimini Capital Management (OTCQB: BMNM) reported a net loss of $3.5 million, or $0.33 per share, for Q1 2022 amid volatile market conditions influenced by rapid Federal Reserve interest rate hikes. The company's book value per share decreased to $2.77. Advisory service revenue was $3.1 million, while the firm faced substantial mark-to-market losses on its investments, including a $3.2 million loss on Orchid shares. The company is focusing on preserving cash and mitigating risks amid a challenging economic landscape impacted by inflation and geopolitical issues.

Bimini Capital Management (OTC: BMNM) announced the release of its first quarter 2022 financial results scheduled for May 12, 2022, after trading hours. An earnings conference call will follow on May 13, 2022, at 10:00 AM ET. Participants can obtain dial-in details through a provided link. Bimini Capital primarily invests in residential mortgage-related securities and manages Orchid Island Capital (NYSE: ORC). The company is headquartered in Vero Beach, Florida.

Bimini Capital Management reported a net loss of $0.6 million, or $0.05 per share, for Q4 2021. The book value per share stands at $3.08. Advisory service revenues increased by 66% year-over-year, driven by Orchid's strong capital growth, which raised approximately $115.5 million in net proceeds. However, the Agency RMBS portfolio saw a 6% decrease, with mark-to-market losses of around $1.9 million. Overall, Bimini anticipates rising funding costs in 2022 due to changing economic conditions linked to Fed policies.

Bimini Capital Management, Inc. (OTCQB:BMNM) will release its fourth quarter 2021 results on March 10, 2022, after trading ends. An earnings conference call and live audio webcast will take place on March 11, 2022, at 10:00 AM ET. Interested participants can find dial-in information and access the webcast via the company’s investor relations page. Bimini primarily invests in residential mortgage-related securities and manages Orchid Island Capital, Inc. (NYSE:ORC) as its external manager.

On November 16, 2021, Orchid Island Capital (NYSE: ORC) and Bimini Capital (OTCQB: BMNM) announced a Third Amendment to their Management Agreement, allowing for internalization of funding and custody operations. Bimini will terminate its arrangements with AVM, taking over repurchase agreement trading and administrative services. As part of this transition, Bimini hired Patrick Doyle, effective December 1, 2021, to lead these services. This move aims to enhance operational efficiency and liquidity management for both Orchid and Bimini.

Bimini Capital Management (OTCQB: BMNM) reported a net income of $0.5 million, or $0.04 per share, for Q3 2021. The company's book value per share stood at $3.13. Key highlights include a 17% increase in advisory services revenue from Orchid Island Capital, attributed to a strong capital base growth. However, Bimini recorded mark-to-market losses of $0.8 million on its Orchid shares. The third quarter also witnessed a decline in the Agency RMBS portfolio by 7%, alongside modest operating expense reductions of 4% compared to Q2 2021. The company will discuss these results on November 9, 2021.

Bimini Capital Management, Inc. (OTCQB:BMNM) will announce its third quarter 2021 results on November 8, 2021, after market close. An earnings conference call is scheduled for November 9, 2021, at 10:00 AM ET, with details available through their website. Bimini primarily invests in residential mortgage-related securities and manages Orchid Island Capital, Inc. (NYSE: ORC), a real estate investment trust, through its subsidiary. Bimini's strategy focuses on earning returns from spreads between asset yields and borrowing costs.

Bimini Capital Management, Inc. (OTCQB: BMNM) announced a plan to repurchase up to $2.5 million of its Class A Common Stock over the next 24 months. The buyback will be conducted in the open market under Rule 10b5-1, allowing purchases during potential blackout periods. This new plan replaces a previous one from March 26, 2018, which resulted in the repurchase of 71,599 shares for approximately $169,000. The company aims to enhance shareholder value, with purchases expected to begin on September 27, 2021.

Bimini Capital Management (OTCQB: BMNM) reported a net loss of $0.9 million for the second quarter of 2021, equating to $0.08 per common share, with a book value per share of $3.00 as of June 30, 2021. The company attributed its performance to mixed results in the mortgage-backed securities market amid a recovering economy impacted by the COVID-19 delta variant. Advisory services revenue rose 8% over Q1 2021, reflecting growth in Orchid Island Capital, which saw a 19% increase in shareholders' equity. Upcoming discussions on the results are scheduled for August 13, 2021.