Streetbeat News

VEL

Velocity Financial, Inc.

https://www.velfinance.com

Industry

Financial - Mortgages

Velocity Financial, Inc. operates as a real estate finance company in the United States. It primarily originates and manages investor loans secured by 14 unit residential rental and small commercial properties. The company offers its products through a network of independent mortgage brokers. Velocity Financial, Inc. was founded in 2004 and is headquartered in Westlake Village, California.

Open

20.32

Mkt cap

670M

Volume

163K

High

20.59

P/E Ratio

10.99

52-wk high

20.85

Low

20.20

Div yield

N/A

52-wk low

13.78

Velocity Financial, Inc. (VEL) held its Q3 2024 earnings call on November 7, 2024. Key participants included Chris Oltmann, Chris Farrar, and Mark Szczepaniak. Analysts from Raymond James, Wells Fargo, Citizens JMP Securities, and BTIG participated in the call.

Portfolio Pulse from

November 10, 2024 | 1:30 am

Velocity Financial (VEL) reported Q3 earnings of $0.47 per share, meeting the Zacks Consensus Estimate and showing an increase from $0.37 per share a year ago.

Portfolio Pulse from

November 08, 2024 | 2:00 am

Wells Fargo analyst Donald Fandetti has downgraded Velocity Financial (NYSE:VEL) from Overweight to Underweight, setting a price target of $20.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 12:57 pm

JMP Securities analyst Chris McGinnis has reiterated a Market Outperform rating for Velocity Financial (NYSE:VEL) and maintained a price target of $21.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 2:32 pm

BTIG analyst Sarah Barcomb maintains a Buy rating on Velocity Financial (NYSE:VEL) and raises the price target from $18 to $20.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:39 pm

JMP Securities analyst Chris McGinnis maintains a Market Outperform rating on Velocity Financial (NYSE:VEL) and raises the price target from $19 to $21.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 6:32 pm

Velocity Financial (NYSE:VEL) reported Q2 2024 adjusted EPS of $0.45, beating the $0.41 estimate. Sales were $54.76M, surpassing the $50.2M estimate and marking a 40.24% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 9:06 pm

Velocity Financial (NYSE:VEL) has received diverse ratings from 7 analysts over the past three months, with a notable increase in the average 12-month price target to $18.93. Analysts have predominantly raised their ratings and price targets, reflecting a positive outlook on the company's performance.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:00 pm

Raymond James analyst Stephen Laws has reiterated an Outperform rating on Velocity Financial (NYSE:VEL) and raised the price target from $20 to $22.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 4:05 pm

Velocity Financial has announced entering into equity distribution agreements with BTIG, LLC and Virtu Americas LLC, allowing the sale of up to $50M of its common stock over time, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:45 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.