Velocity Financial, Inc. operates as a real estate finance company in the United States. The company primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. It offers its products through a network of independent mortgage brokers. The company was founded in 2004 and is headquartered in Westlake Village, California.
IPO Year: 2020
Exchange: NYSE
Website: velfinance.com
| 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 |
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
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its fourth quarter and full-year 2024 results after the market close on Thursday, March 6, 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
Third Quarter Highlights: Net income of $15.8 million, up 30.8% from $12.1 million for 3Q23. Diluted EPS of $0.44, up $0.09 from $0.35 per share for 3Q23 Core net income(1) of $16.9 million, an increase of 31.2% from $12.9 million for 3Q23. Core diluted EPS(1) of $0.47, up from $0.37 per share for 3Q23 Loan production of $476.8 million in UPB, a 12.9% and 64.1% increase from 2Q24 and 3Q23, respectively Nonperforming loans as a percentage of Held for Investment (HFI)(2) loans was 10.6%, up slightly from 10.5% as of June 30, 2024, and 10.1% as of September 30, 2023, respectively Resolutions of nonperforming loans (NPL) and real estate owned (REO) totaled $68.6 million in UPB Reali
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its third quarter 2024 results after the market close on Thursday, November 7, 2024. 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 minu
Second Quarter Highlights: Net income of $14.7 million, up 21.3% from $12.2 million for 2Q23. Diluted EPS of $0.42, up $0.06 from $0.36 per share for 2Q23 Core net income(1) of $15.9 million, an increase of 23.1% from $12.9 million for 2Q23. Core diluted EPS(1) of $0.45, up from $0.38 per share for 2Q23 Loan production of $422.2 million in UPB, an 11.5% and 63.2% increase from 1Q24 and 2Q23, respectively Nonperforming loans as a percentage of Held for Investment (HFI) loans was 10.5%, up slightly from 10.1% as of March 31, 2024, and 10.0% as of June 30, 2023, respectively Resolutions of nonperforming loans (NPL) and real estate owned (REO) totaled $80.7 million in UPB Reali
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its second quarter 2024 results after the market close on Thursday, August 1, 2024. 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 min
First Quarter Highlights: Net income of $17.3 million, up 62.0% from $10.6 million for 1Q23. Diluted EPS of $0.49, up $0.18 from $0.31 per share for 1Q23 Core net income(1) of $18.2 million, an increase of 60.4% from $11.4 million for 1Q23. Core diluted EPS(1) of $0.51, up from $0.33 per share for 1Q23 Loan production of $378.7 million in UPB, a 7.5% increase from 4Q23 and 74.5% from 1Q23 Loan production in April 2024 totaled $129.0 million with an 11.0% weighted average coupon (WAC) Nonperforming loans as a percentage of Held for Investment (HFI) loans was 10.1%, up slightly from the 9.7% as of December 31, 2023, and an increase from 8.7% as of March 31, 2023 Resoluti
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its first quarter 2024 results after the market close on Thursday, May 2, 2024. 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
8-K - Velocity Financial, Inc. (0001692376) (Filer)
8-K - Velocity Financial, Inc. (0001692376) (Filer)
SCHEDULE 13D/A - Velocity Financial, Inc. (0001692376) (Subject)
10-Q - Velocity Financial, Inc. (0001692376) (Filer)
SCHEDULE 13D/A - Velocity Financial, Inc. (0001692376) (Subject)
424B5 - Velocity Financial, Inc. (0001692376) (Filer)
8-K - Velocity Financial, Inc. (0001692376) (Filer)
DEFA14A - Velocity Financial, Inc. (0001692376) (Filer)
DEF 14A - 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)
4 - Velocity Financial, Inc. (0001692376) (Issuer)
4 - Velocity Financial, Inc. (0001692376) (Issuer)
4 - Velocity Financial, Inc. (0001692376) (Issuer)
4 - Velocity Financial, Inc. (0001692376) (Issuer)
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
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its fourth quarter and full-year 2024 results after the market close on Thursday, March 6, 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
Third Quarter Highlights: Net income of $15.8 million, up 30.8% from $12.1 million for 3Q23. Diluted EPS of $0.44, up $0.09 from $0.35 per share for 3Q23 Core net income(1) of $16.9 million, an increase of 31.2% from $12.9 million for 3Q23. Core diluted EPS(1) of $0.47, up from $0.37 per share for 3Q23 Loan production of $476.8 million in UPB, a 12.9% and 64.1% increase from 2Q24 and 3Q23, respectively Nonperforming loans as a percentage of Held for Investment (HFI)(2) loans was 10.6%, up slightly from 10.5% as of June 30, 2024, and 10.1% as of September 30, 2023, respectively Resolutions of nonperforming loans (NPL) and real estate owned (REO) totaled $68.6 million in UPB Reali
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its third quarter 2024 results after the market close on Thursday, November 7, 2024. 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 minu
Second Quarter Highlights: Net income of $14.7 million, up 21.3% from $12.2 million for 2Q23. Diluted EPS of $0.42, up $0.06 from $0.36 per share for 2Q23 Core net income(1) of $15.9 million, an increase of 23.1% from $12.9 million for 2Q23. Core diluted EPS(1) of $0.45, up from $0.38 per share for 2Q23 Loan production of $422.2 million in UPB, an 11.5% and 63.2% increase from 1Q24 and 2Q23, respectively Nonperforming loans as a percentage of Held for Investment (HFI) loans was 10.5%, up slightly from 10.1% as of March 31, 2024, and 10.0% as of June 30, 2023, respectively Resolutions of nonperforming loans (NPL) and real estate owned (REO) totaled $80.7 million in UPB Reali
Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its second quarter 2024 results after the market close on Thursday, August 1, 2024. 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 min
Velocity Financial, Inc. (NYSE:VEL), ("Velocity" or the "Company"), a leader in business purpose loans, today announced that Kroll Bond Rating Agency ("KBRA") has reviewed the ratings on 19 of the outstanding securitizations issued by its wholly-owned subsidiary, Velocity Commercial Capital, LLC ("VCC") resulting in 271 rating affirmations and three rating upgrades of the underlying tranches. The rating actions occurred in conjunction with completing KBRA's comprehensive surveillance review. KBRA's rating affirmations reflect continued stable collateral and structure performance, as evidenced by increased credit support for the rated classes and minimal losses since issuance. The rating u
First Quarter Highlights: Net income of $17.3 million, up 62.0% from $10.6 million for 1Q23. Diluted EPS of $0.49, up $0.18 from $0.31 per share for 1Q23 Core net income(1) of $18.2 million, an increase of 60.4% from $11.4 million for 1Q23. Core diluted EPS(1) of $0.51, up from $0.33 per share for 1Q23 Loan production of $378.7 million in UPB, a 7.5% increase from 4Q23 and 74.5% from 1Q23 Loan production in April 2024 totaled $129.0 million with an 11.0% weighted average coupon (WAC) Nonperforming loans as a percentage of Held for Investment (HFI) loans was 10.1%, up slightly from the 9.7% as of December 31, 2023, and an increase from 8.7% as of March 31, 2023 Resoluti
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
Wells Fargo reiterated coverage of Velocity Financial with a rating of Overweight and set a new price target of $15.00 from $16.00 previously
Raymond James reiterated coverage of Velocity Financial with a rating of Outperform and set a new price target of $17.00 from $11.00 previously
JMP Securities reiterated coverage of Velocity Financial with a rating of Market Outperform and set a new price target of $14.00 from $12.00 previously
Raymond James reiterated coverage of Velocity Financial with a rating of Outperform and set a new price target of $11.00 from $10.00 previously
Raymond James reiterated coverage of Velocity Financial with a rating of Outperform and set a new price target of $10.00 from $8.00 previously
JMP Securities reiterated coverage of Velocity Financial with a rating of Market Outperform and set a new price target of $9.50 from $8.00 previously
Wells Fargo reiterated coverage of Velocity Financial with a rating of Overweight and set a new price target of $10.00 from $7.00 previously
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