earnings
confidence high
sentiment neutral
materiality 0.50
Bimini Capital Q3 net income $0.5M ($0.04/share), book value $3.13; advisory revenue up 56% YoY
BIMINI CAPITAL MANAGEMENT, INC.
- Net income of $0.5M, or $0.04 per diluted share, vs $1.3M ($0.11/share) in Q3 2020.
- Advisory services revenue rose 56% YoY to $2.5M, driven by Orchid's capital raise of $207.5M in Q3.
- Book value per share increased to $3.13 from $2.97 at year-end 2020.
- Company repurchased 812,879 shares at $1.85 per share via tender offer in July 2021.
- Combined MBS portfolio return on invested capital 2.4% for Q3; prepayment speeds moderated to 18.3 CPR.