US Bancorp DE Buys 3,504 Shares of Orchid Island Capital, Inc. $ORC

US Bancorp DE boosted its stake in Orchid Island Capital, Inc. (NYSE:ORC) by 1,123.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,816 shares of the real estate investment trust’s stock after purchasing an additional 3,504 shares during the quarter. US Bancorp DE’s holdings in Orchid Island Capital were worth $29,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Financial Gravity Asset Management Inc. bought a new stake in shares of Orchid Island Capital in the first quarter worth about $647,000. Ameriprise Financial Inc. boosted its stake in Orchid Island Capital by 79.0% during the fourth quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust’s stock valued at $6,972,000 after buying an additional 395,650 shares during the last quarter. Northern Trust Corp grew its holdings in Orchid Island Capital by 16.8% during the 4th quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust’s stock valued at $5,310,000 after buying an additional 98,030 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Orchid Island Capital in the 1st quarter worth approximately $92,000. Finally, Millennium Management LLC increased its stake in Orchid Island Capital by 1.1% in the 4th quarter. Millennium Management LLC now owns 309,480 shares of the real estate investment trust’s stock worth $2,408,000 after acquiring an additional 3,354 shares during the last quarter. Institutional investors own 32.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ORC. Jones Trading reiterated a “hold” rating on shares of Orchid Island Capital in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Orchid Island Capital from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Orchid Island Capital Price Performance

NYSE:ORC opened at $7.0950 on Thursday. The firm has a market capitalization of $899.15 million, a price-to-earnings ratio of 35.48 and a beta of 1.47. The business has a 50 day simple moving average of $7.11 and a 200-day simple moving average of $7.38. Orchid Island Capital, Inc. has a 1 year low of $5.68 and a 1 year high of $9.01.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $23.15 million for the quarter, compared to the consensus estimate of $23.25 million. As a group, analysts expect that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current fiscal year.

Orchid Island Capital Dividend Announcement

The company also recently announced a aug 25 dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 2,010.0%. Orchid Island Capital’s dividend payout ratio is currently 720.00%.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.