Velocity Financial (VEL) Beats Q4 Earnings and Revenue Estimates
- Velocity Financial (VEL) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.27 per share a year ago.
- 03/07/2024
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Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2023 Results
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $52.3 million and core net income of $53.4 million for full-year 2023, compared to net income of $32.2 million and core net income of $42.2 million for the full-year 2022. Earnings and core earnings per diluted share were $1.52 and $1.54, respectively, for the full-year 2023, compared to $0.94 and $1.24 for the full-year 2022. “I a.
- 03/07/2024
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Velocity Financial, Inc. Announces Issuance of $75 Million of Senior Secured Notes
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leader in business purpose loans, today announced the issuance of $75 million principal amount of five-year senior secured notes (the ”Notes”) by Velocity Commercial Capital, LLC, a wholly-owned subsidiary of Velocity. The Notes will bear interest at 9.875% per annum and will mature on February 15, 2029. Interest on the notes will be payable semi-annually on May 15 and November 15 o.
- 02/06/2024
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Velocity Financial, Inc. Announces Date of Fourth Quarter and Full-Year 2023 Financial Results Webcast and Conference Call
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in commercial investor loans, will release its fourth quarter and full-year 2023 results after the market close on Thursday, March 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 lis.
- 01/31/2024
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Velocity Financial, Inc. (VEL) Q3 2023 Earnings Call Transcript
- Velocity Financial, Inc. (NYSE:VEL ) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Chris Oltmann - Treasurer Chris Farrar - President and CEO Mark Szczepaniak - Chief Financial Officer Conference Call Participants Stephen Laws - Raymond James Sarah Barcomb - BTIG Steve Delaney - JMP Securities Operator Good day and welcome to the Velocity Financial Q3 2023 Conference Call. All participants will be in a listen-only mode.
- 11/05/2023
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Velocity Financial, Inc. Reports Third Quarter 2023 Results
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $12.1 million and core net income of $12.9 million for 3Q23, compared to net income and core net income of $10.0 million for 3Q22. Earnings and core earnings per diluted share were $0.35 and $0.37, respectively, for 3Q23, compared to $0.29 and $0.29 for 3Q22. “Velocity's differentiated business model and portfolio management strate.
- 11/02/2023
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Velocity Financial, Inc. Announces Date of Third Quarter 2023 Financial Results Webcast and Conference Call
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in business purpose loans, will release its third quarter 2023 results after the market close on Thursday, November 2, 2023. 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 a.
- 10/20/2023
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Is the Options Market Predicting a Spike in Velocity Financial (VEL) Stock?
- Investors need to pay close attention to Velocity Financial (VEL) stock based on the movements in the options market lately.
- 10/05/2023
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3 Mortgage & Related Services Stocks to Watch Amid Industry Woes
- High mortgage rates and low origination volumes are hurting the Zacks Mortgage & Related Services industry's prospects. Nonetheless, stocks like AGM, VEL and TREE are better positioned to escape the industry challenges.
- 10/03/2023
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Velocity Financial (VEL) Could Find a Support Soon, Here's Why You Should Buy the Stock Now
- Velocity Financial (VEL) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.
- 08/23/2023
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Velocity Financial, Inc. (VEL) Q2 2023 Earnings Call Transcript
- Velocity Financial, Inc. (NYSE:VEL ) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Chris Oltmann – Treasurer Chris Farrar – President and Chief Executive Officer Mark Szczepaniak – Chief Financial Officer Conference Call Participants Steve DeLaney – JMP Securities Stephen Laws – Raymond James Operator Good afternoon and welcome to the Velocity Financial Second Quarter 2023 Conference Call. All participants will be in a listen-only mode.
- 08/06/2023
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Velocity Financial (VEL) Q2 Earnings Beat Estimates
- Velocity Financial (VEL) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.31 per share a year ago.
- 08/03/2023
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Velocity Financial, Inc. Reports Second Quarter 2023 Results
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $12.2 million and core net income of $12.9 million for 2Q23, compared to net income of $10.6 million and core net income of $10.6 million in 2Q22. Earnings and core earnings per diluted share were $0.36 and $0.38, respectively, for 2Q23, compared to $0.31 and $0.31, for 2Q22. “Velocity once again delivered strong quarterly earnings.
- 08/03/2023
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New Strong Buy Stocks for July 17th
- MDB, SOHO, YEXT, VEL and KELYA have been added to the Zacks Rank #1 (Strong Buy) List on July 17, 2023.
- 07/17/2023
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3 Mortgage & Related Services Stocks to Watch Amid Macro Woes
- Amid a soft mortgage environment, Mortgage & Related Services players like PFSI, AGM and VEL are focusing on servicing portfolio growth and diversifying business models to navigate choppy waters.
- 07/06/2023
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Velocity Financial (VEL) Just Flashed Golden Cross Signal: Do You Buy?
- Velocity Financial, Inc. (VEL) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VEL's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.
- 06/30/2023
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Velocity Financial (VEL) Soars 10.2%: Is Further Upside Left in the Stock?
- Velocity Financial (VEL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
- 06/26/2023
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Earnings Estimates Moving Higher for Velocity Financial (VEL): Time to Buy?
- Velocity Financial (VEL) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
- 06/09/2023
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Velocity Financial (VEL) Upgraded to Buy: What Does It Mean for the Stock?
- Velocity Financial (VEL) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
- 06/09/2023
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Velocity Financial (VEL) Surpasses Q1 Earnings and Revenue Estimates
- Velocity Financial (VEL) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.36 per share a year ago.
- 05/04/2023
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Velocity Financial, Inc. Announces Date of First Quarter 2023 Financial Results Webcast and Conference Call
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in business purpose loans, will release its first quarter 2023 results after the market close on Thursday, May 4, 2023. 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.
- 04/20/2023
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Velocity Financial, Inc. (VEL) Q4 2022 Earnings Call Transcript
- Velocity Financial, Inc. (NYSE:VEL ) Q4 2022 Earnings Conference Call March 9, 2023 5:00 PM ET Company Participants Chris Oltmann - Treasurer and Head IR Chris Farrar - President and Chief Executive Officer Mark Szczepaniak - Chief Financial Officer Conference Call Participants Stephen Laws - Raymond James Steve Delaney - JMP Securities Arren Cyganovich - Citigroup Operator Good afternoon, everyone, and welcome to the Velocity Financial, Incorporated Q4 2022 Conference Call. [Operator Instructions] For your information, today's conference call is being recorded.
- 03/09/2023
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Velocity Financial (VEL) Lags Q4 Earnings and Revenue Estimates
- Velocity Financial (VEL) delivered earnings and revenue surprises of -6.90% and 20%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
- 03/09/2023
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Velocity Financial, Inc. (VEL) Q3 2022 Earnings Call Transcript
- Velocity Financial, Inc. (NYSE:VEL ) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Chris Oltmann – Treasurer Chris Farrar – President and Chief Executive Officer Mark Szczepaniak – Chief Financial Officer Conference Call Participants Steve Delaney – JMP Securities Operator Good afternoon, and welcome to the Velocity Financial, Inc. Third Quarter 2022 Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions.
- 11/05/2022
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Velocity Financial (VEL) Matches Q3 Earnings Estimates
- Velocity Financial (VEL) delivered earnings and revenue surprises of 0% and 3.38%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
- 11/03/2022
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Velocity Financial, Inc. Announces Date of Third Quarter 2022 Financial Results Webcast and Conference Call
- WESTLAKE VILLAGE, Calif.
- 10/24/2022
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Velocity Financial, Inc. (VEL) CEO Chris Farrar on Q2 2022 Results - Earnings Call Transcript
- Velocity Financial, Inc. (NYSE:VEL ) Q2 2022 Earnings Conference Call August 4, 2022 6:00 PM ET Company Participants Chris Oltmann - Treasurer & Director, Investor Relations Chris Farrar - President & Chief Executive Officer Mark Szczepaniak - Chief Financial Officer Conference Call Participants Arren Cyganovich - Citi Steve DeLaney - JMP Securities Operator Good day, and welcome to the Velocity Financial Inc. Second Quarter 2022 Conference Earnings Call. All participants will be in listen-only mode.
- 08/05/2022
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Velocity Financial (VEL) Tops Q2 Earnings and Revenue Estimates
- Velocity Financial (VEL) delivered earnings and revenue surprises of 3.33% and 3.58%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
- 08/04/2022
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Velocity Financial (VEL) Soars 7.1%: Is Further Upside Left in the Stock?
- Velocity Financial (VEL) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
- 07/26/2022
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Velocity Financial (VEL) Moves 17.6% Higher: Will This Strength Last?
- Velocity Financial (VEL) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
- 06/20/2022
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Is Velocity Financial (VEL) a Great Value Stock Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 05/13/2022
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Velocity Financial's (VEL) CEO Chris Farrar on Q1 2022 Results - Earnings Call Transcript
- Velocity Financial, Inc. (NYSE:VEL ) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Chris Oltmann – Treasurer Chris Farrar – President and Chief Executive Officer Mark Szczepaniak – Chief Financial Officer Conference Call Participants Steve Delaney – JMP Securities Operator Good day, and welcome to the Velocity Financial Inc First Quarter 2022 Conference Call. All participants will be in listen-only mode.
- 05/07/2022
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After Plunging 17.2% in 4 Weeks, Here's Why the Trend Might Reverse for Velocity Financial (VEL)
- The heavy selling pressure might have exhausted for Velocity Financial (VEL) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
- 03/16/2022
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3 Mortgage & Related Services Players Set to Brave Industry Woes
- Despite a rise in mortgage rates and fading origination volumes, WD, ESNT and VEL are set to hold ground on expectations of higher housing demand and portfolio diversity.
- 03/11/2022
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Velocity Financial, Inc. (VEL) CEO Christopher Farrar on Q4 2021 Results - Earnings Call Transcript
- Velocity Financial, Inc. (VEL) CEO Christopher Farrar on Q4 2021 Results - Earnings Call Transcript
- 03/10/2022
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Velocity Financial, Inc. Provides Financial and Operational Update and Announces Date of Fourth Quarter Results Conference Call
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (“Velocity” or the “Company”) (NYSE: VEL), a leading provider of small balance investor loans, today announced a preliminary financial and operational update for the quarter ended December 31, 2021. The Company expects to release its fourth quarter 2021 results after market close on March 10, 2022, to be followed by a conference call and webcast hosted by the Company to review its financial results at 2:00 p.m. Pacific Time / 5
- 01/21/2022
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Velocity Financial (VEL) Buys Majority Interest in Century
- Velocity Financial's (VEL) acquisition of Century will expand the former's commercial mortgage product offerings and augment the ability to offer new products to its broker network.
- 12/29/2021
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3 Mortgage & Related Services Stocks to Watch as Mortgage Rates Rise
- Portfolio diversity and digitalization will aid players in the Zacks Mortgage & Related Services industry, including WD, EFC and VEL, amid headwinds like rising mortgage rates and home price appreciation.
- 11/30/2021
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Velocity Financial, Inc. (VEL) CEO Christopher Farrar on Q3 2021 Results - Earnings Call Transcript
- Velocity Financial, Inc. (VEL) CEO Christopher Farrar on Q3 2021 Results - Earnings Call Transcript
- 11/06/2021
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Velocity Financial (VEL) Q3 Earnings and Revenues Beat Estimates
- Velocity Financial (VEL) delivered earnings and revenue surprises of 9.52% and 14.58%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?
- 11/03/2021
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Velocity Financial Announces Conversion of Series A Preferred Stock
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL), ("Velocity" or the "Company"), a leading provider of small balance investor loans, today announced the voluntary conversion of all 45,000 outstanding shares of the Company's Series A Convertible Preferred Stock into 11,688,310 shares of Velocity common stock. As a result of the conversion, the $90 million liquidation preference value of the Series A Convertible Preferred Stock previously reflected as mezzanine equi
- 10/08/2021
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Velocity Financial Announces Closing of $205 Million Securitization; Seventeenth Securitization Since 2011
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL), ("Velocity" or the "Company"), a leading provider of small balance investor loans, today announced that it has closed its second securitization transaction of 2021, in aggregate $205 million of Mortgage-Backed Certificates, series 2021-2 (the "Certificates") backed by a portfolio of loans recently originated through Velocity's operating platform. The sold Certificates will be issued in seven classes and were priced
- 08/13/2021
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Velocity Financial, Inc.'s (VEL) CEO Christopher Farrar on Q2 2021 Results - Earnings Call Transcript
- Velocity Financial, Inc.'s (VEL) CEO Christopher Farrar on Q2 2021 Results - Earnings Call Transcript
- 08/08/2021
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Velocity Financial, Inc. Announces Date of Second Quarter 2021 Financial Results Webcast and Conference Call
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in small balance investor loans, announced today that it is scheduled to release its second quarter 2021 results after the market close on Thursday, August 5, 2021. 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 wi
- 07/21/2021
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3 Mortgage & Related Services Stocks to Battle Industry Woes
- 3 Mortgage & Related Services Stocks to Battle Industry Woes
- 06/30/2021
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4 Breakout Stocks You Must Add Right Away to Your Portfolio
- The logic behind this strategy for stock selection is to identify stocks that are trading within a narrow band.
- 06/30/2021
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Velocity Financial (VEL) Soars 36.6%: Is Further Upside Left in the Stock?
- Velocity Financial (VEL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
- 05/10/2021
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Velocity Financial, Inc. (VEL) CEO Chris Farrar on Q1 2021 Results - Earnings Call Transcript
- Velocity Financial, Inc. (VEL) CEO Chris Farrar on Q1 2021 Results - Earnings Call Transcript
- 05/09/2021
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SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Velocity Financial, Inc. for Potential Breaches of Fiduciary Duty By Its Board of Directors
- NEW YORK, May 6, 2021 /PRNewswire/ -- Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of Velocity Financial, Inc. (NYSE: VEL). If you are a shareholder of Velocity Financial, Inc. and are interested in obtaining additional information regarding this investigation, free of charge, please visit us at: http://pjlfirm.com/velocity-financial-inc/ You may also contact Robert H.
- 05/06/2021
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Velocity Financial, Inc. (VEL) CEO Chris Farrar on Q4 2020 Results - Earnings Call Transcript
- Velocity Financial, Inc. (VEL) CEO Chris Farrar on Q4 2020 Results - Earnings Call Transcript
- 03/16/2021
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Velocity Financial, Inc. Announces Fourth Quarter and Full Year 2020 Results
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL) (“Velocity” or the “Company”) reported net income and core income of $9.6 million for the fourth quarter of 2020 and diluted earnings per common share of $0.29. Book value per common share was $10.93, an increase from $10.44 as of December 31, 2020. “The fourth quarter marked a significant turning point in the Company's emergence from the effects of the pandemic,” said Chris Farrar, President and CEO. “The excellent
- 03/16/2021
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Velocity Financial (VEL) Moves 6.1% Higher: Will This Strength Last?
- Velocity Financial (VEL) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
- 03/03/2021
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Velocity Financial, Inc. Announces Date of Fourth Quarter 2020 Financial Results Webcast and Conference Call
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in small balance investor loans, announced today that it is scheduled to release its fourth quarter and full year 2020 results after the market close on Tuesday, March 16, 2021. 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 confe
- 02/25/2021
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Velocity Financial, Inc. Announces New $175 Million Term Loan Facility and $200 Million Warehouse Facility
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leading provider of small balance investor loans, today announced that it has entered into a new $175 million, 5-year term loan with a syndicate of lenders including funds managed by Blackrock's U.S. Private Capital group, Oaktree Capital Management, L.P., and UBS O'Connor. The new facility has an initial $125 million funding as of the closing date, with an additional $50 million as
- 02/09/2021
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Velocity Financial Announces the Dismissal of Class Action Lawsuit
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leading provider of small balance investor loans, today announced that a motion to dismiss the class action lawsuit brought against the Company, its Directors at the time of the Company's IPO, its former controlling shareholder, and its IPO underwriters was granted by the judge presiding over the case (the “Dismissal Order”). Chris Farrar, President and CEO, stated, “We are very ple
- 01/28/2021
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Velocity Financial, Inc. Announces Third Quarter 2020 Results
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL) (“Velocity” or the “Company”) reported net income of $3.5 million for the third quarter of 2020 and diluted earnings per common share of $0.11. Core income(1) for the third quarter of 2020 was $3.9 million, excluding severance costs related to workforce reductions. Book value per common share was $10.44, an increase from $10.26 as of June 30, 2020. “Velocity's third quarter results highlight the significant progress
- 11/11/2020
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Velocity Financial, Inc. Provides Business Update and Announces Date of Third Quarter Financial Results Webcast and Conference Call
- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in small balance real estate lending, today provided a business update and announced that it will release third quarter 2020 financial results after the market close on Wednesday, November 11, 2020. Business Update: Restarted loan production activities in September to strong demand – Applications totaled $226 million in September and $252 million in October, similar to our 2020 Q1
- 11/03/2020
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