Velocity Financial downgraded by Citigroup with a new price target
$VEL
Finance: Consumer Services
Finance
Citigroup downgraded Velocity Financial from Buy to Neutral and set a new price target of $11.00 from $14.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/20/2024 | $20.00 | Overweight → Underweight | Wells Fargo |
| 10/23/2023 | $14.00 | Buy | BTIG Research |
| 10/13/2022 | $14.00 → $11.00 | Buy → Neutral | Citigroup |
| 3/11/2022 | $16.00 → $15.00 | Overweight | Wells Fargo |
| 8/10/2021 | $11.00 → $17.00 | Outperform | Raymond James |
| 8/6/2021 | $12.00 → $14.00 | Market Outperform | JMP Securities |
SC 13D/A - Velocity Financial, Inc. (0001692376) (Subject)
SC 13D/A - Velocity Financial, Inc. (0001692376) (Subject)
SC 13G/A - Velocity Financial, Inc. (0001692376) (Subject)
Wells Fargo downgraded Velocity Financial from Overweight to Underweight and set a new price target of $20.00
BTIG Research initiated coverage of Velocity Financial with a rating of Buy and set a new price target of $14.00
Citigroup downgraded Velocity Financial from Buy to Neutral and set a new price target of $11.00 from $14.00 previously
First Quarter Highlights: Net income of $18.9 million, up 9.5% from $17.3 million for 1Q24. Diluted EPS of $0.51, up $0.02 from $0.49 per share for 1Q24 Core net income(1) of $20.3 million, an increase of 11.0% from $18.2 million for 1Q24. Core diluted EPS(1) of $0.55, up from $0.51 per share for 1Q24 Record loan production of $640.4 million in UPB, a 13.7% and 69.1% increase from 4Q24 and 1Q24, respectively Nonperforming loans (NPL) as a percentage of HFI(2) loans were 10.8%, relatively consistent with 10.7% as of December 31, 2024, and 10.1% as of March 31, 2024, respectively Resolutions of NPL and real estate owned (REO) totaled $76.4 million in UPB Realized gains of $1.9 mil
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its first quarter 2025 results after the market close on Thursday, May 1, 2025. Velocity's executive management team will host a conference call and webcast to review its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. Webcast Information The conference call will be webcast live in listen-only mode and can be accessed through the Events and Presentations section of the Company's Investor Relations website at https://www.velfinance.com/events-and-presentations. To listen to the webcast, please go to Velocity's website at least 15 minutes b
Fourth Quarter Highlights: Net income of $20.6 million, up 18.6% from $17.4 million for 4Q23. Diluted EPS of $0.57, up $0.07 from $0.50 per share for 4Q23 Core net income(1) of $21.8 million, an increase of 34.6% from $16.2 million for 4Q23. Core diluted EPS(1) of $0.60, up from $0.46 per share for 4Q23 Loan production of $563.5 million in UPB, an 18.2% and 60.0% increase from 3Q24 and 4Q23, respectively Year-to-date 2025 loan production through February of $429.4 million Nonperforming loans (NPL) as a percentage of Held for Investment (HFI)(2) loans was 10.7%, up slightly from 10.6% as of September 30, 2024, and 9.7% as of December 31, 2023, respectively Resolutions of NPL a
8-K - Velocity Financial, Inc. (0001692376) (Filer)
8-K - Velocity Financial, Inc. (0001692376) (Filer)
SCHEDULE 13D/A - Velocity Financial, Inc. (0001692376) (Subject)
4 - Velocity Financial, Inc. (0001692376) (Issuer)
4 - Velocity Financial, Inc. (0001692376) (Issuer)
4 - Velocity Financial, Inc. (0001692376) (Issuer)
First Quarter Highlights: Net income of $18.9 million, up 9.5% from $17.3 million for 1Q24. Diluted EPS of $0.51, up $0.02 from $0.49 per share for 1Q24 Core net income(1) of $20.3 million, an increase of 11.0% from $18.2 million for 1Q24. Core diluted EPS(1) of $0.55, up from $0.51 per share for 1Q24 Record loan production of $640.4 million in UPB, a 13.7% and 69.1% increase from 4Q24 and 1Q24, respectively Nonperforming loans (NPL) as a percentage of HFI(2) loans were 10.8%, relatively consistent with 10.7% as of December 31, 2024, and 10.1% as of March 31, 2024, respectively Resolutions of NPL and real estate owned (REO) totaled $76.4 million in UPB Realized gains of $1.9 mil
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its first quarter 2025 results after the market close on Thursday, May 1, 2025. Velocity's executive management team will host a conference call and webcast to review its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. Webcast Information The conference call will be webcast live in listen-only mode and can be accessed through the Events and Presentations section of the Company's Investor Relations website at https://www.velfinance.com/events-and-presentations. To listen to the webcast, please go to Velocity's website at least 15 minutes b
Fourth Quarter Highlights: Net income of $20.6 million, up 18.6% from $17.4 million for 4Q23. Diluted EPS of $0.57, up $0.07 from $0.50 per share for 4Q23 Core net income(1) of $21.8 million, an increase of 34.6% from $16.2 million for 4Q23. Core diluted EPS(1) of $0.60, up from $0.46 per share for 4Q23 Loan production of $563.5 million in UPB, an 18.2% and 60.0% increase from 3Q24 and 4Q23, respectively Year-to-date 2025 loan production through February of $429.4 million Nonperforming loans (NPL) as a percentage of Held for Investment (HFI)(2) loans was 10.7%, up slightly from 10.6% as of September 30, 2024, and 9.7% as of December 31, 2023, respectively Resolutions of NPL a