Deutsche Bank maintains its Buy rating and $3 target price on Chimera CIM as the company posts below-estimates dividend for fourth quarter.
Deutsche Bank says, "Chimera's 4Q dividend of $0.11 per share decreased sequentially from $0.13 per share and was a penny below our estimate. The dividend is payable on January 26 to shareholders of record on
December 29. We are maintaining our 4Q GAAP earnings estimate of $0.13 per share; however, given the 4Q dividend, we believe 4Q earnings could in line to a penny or two light. Our 2012 GAAP earnings estimate of $0.53 per share and dividend estimate of $0.48 per share remain unchanged at this time."
CIM closed at $2.66 per share on Monday.
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