Deutsche Bank Provides Color on Chimera

Deutsche Bank provided color on Chimera CIM. In a research report published today, the rating agency commented on the company's Q2 results, which were below expectations. In the report, Deutsche Bank states, “Chimera's 2Q core earnings were two cents below our estimate and down a penny sequentially. 2Q GAAP earnings were $0.11 per share due to realized losses and principal write-downs. At 2Q end, Chimera's portfolio totaled $10.0 billion, down sequentially from $10.2 billion, with roughly 50% being agency RMBS. Chimera paid a 2Q dividend of $0.13 per share, down sequentially from $0.14 per share.” At the moment, the rating agency has a Buy rating and a price target of $5 placed on the company's stock. On Monday, Chimera closed the day at $3.11. Its shares added 1.29% to their value in today's pre-market trading to stand around $3.15.