Welcome to our dedicated page for Bimini Capital news (Ticker: BMNM), a resource for investors and traders seeking the latest updates and insights on Bimini Capital stock.
Bimini Capital Management, Inc. (BMNM) is an asset manager focused on Agency residential mortgage-backed securities and external investment management. News about Bimini often centers on its earnings results, portfolio performance, advisory revenues from managing Orchid Island Capital, Inc., and developments in its capital allocation and financing structure.
Investors following BMNM news can expect regular updates on quarterly and annual financial results, including net income or loss, book value per share, advisory service revenues, and returns on invested capital for its pass-through and structured MBS sub-portfolios. The company also reports on prepayment trends in its MBS holdings, changes in portfolio composition by issuer and security type, and the impact of repurchase agreement funding costs and hedge positions.
Corporate and strategic announcements are another key component of Bimini’s news flow. Recent disclosures include a Membership Interest Purchase Agreement for Bimini Advisors Holdings, LLC to acquire 80% of Tom Johnson Investment Management, LLC, a registered investment adviser, and board of directors changes such as the resignation of a long-serving director and the appointment of a new independent Class I director. The company has also announced amendments to its stockholder rights plan designed to help preserve net operating loss carryforwards.
Because Bimini serves as the external manager of Orchid Island Capital, Inc., its news releases often discuss Orchid’s equity base, capital raising activity, and the resulting effect on Bimini’s advisory service revenues. For a comprehensive view of BMNM-related developments, readers can use this news page to review earnings releases, transaction announcements, governance updates, and other material events reported through press releases and SEC filings.
Bimini Capital Management (OTCQB:BMNM) will announce its Q1 2021 financial results on May 13, 2021, after market close. An earnings conference call is scheduled for May 14, 2021, at 10:00 AM ET. Interested participants can obtain dial-in details through the provided registration link. Bimini specializes in managing assets, focusing on residential mortgage-related securities from Fannie Mae, Freddie Mac, and Ginnie Mae. The company also externally manages Orchid Island Capital, a publicly-traded REIT, overseeing its investment strategies and daily operations.
Bimini Capital announced a net income of $12.1 million, or $1.04 per share, for the fourth quarter of 2020. The company reported an income tax benefit of $10.7 million and a book value per share of $2.97 as of December 31, 2020. Despite a 52% drop in interest income, reduced borrowing costs led to a 9% reduction in net interest income. The investment strategy in Agency MBS paid off, allowing a revenue increase of 8% against 2019. Advisory service revenues also saw a 12% rise as Orchid Island Capital's equity base grew.
Bimini Capital Management (OTCBB:BMNM) will announce its fourth quarter 2020 results post-market close on March 11, 2021. An earnings conference call is scheduled for March 12, 2021, at 10:00 AM ET, accessible through a registration link. The live audio webcast will be available on the company’s investor relations website, with an archive until April 12, 2021. Bimini primarily invests in residential mortgage-related securities and manages Orchid Island Capital, a REIT, through its subsidiary, Bimini Advisors.