27-Mar-2024
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Velocity Financial, Inc. Corrects Typographical Error in Fourth Quarter and Full-Year 2023 Results
Business Wire (Fri, 8-Mar 8:30 AM ET)
Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2023 Results
Business Wire (Thu, 7-Mar 4:15 PM ET)
Velocity Financial, Inc. Announces Issuance of $75 Million of Senior Secured Notes
Business Wire (Tue, 6-Feb 8:30 AM ET)
Business Wire (Wed, 31-Jan 8:30 AM ET)
Velocity Financial Inc is a United States-based real estate finance company. The company originates and manages investor loans secured by residential rental and small commercial properties. The company earns revenue in the form of interest income. It operates in New York, California, Florida, New Jersey, and other states.
Velocity Financial trades on the NYSE stock market under the symbol VEL.
As of March 27, 2024, VEL stock price climbed to $18.23 with 20,194 million shares trading.
VEL has a beta of 0.92, meaning it tends to be less sensitive to market movements. VEL has a correlation of 0.10 to the broad based SPY ETF.
VEL has a market cap of $600.95 million. This is considered a Small Cap stock.
Last quarter Velocity Financial reported $52 million in Revenue and $.46 earnings per share. This beat revenue expectation by $4 million and exceeded earnings estimates by $.08.
In the last 3 years, VEL stock traded as high as $19.08 and as low as $7.81.
The top ETF exchange traded funds that VEL belongs to (by Net Assets): IWM, VTI, VXF, BSVO, IWN.
VEL has outperformed the market in the last year with a price return of +102.8% while the SPY ETF gained +33.6%. However, in the short term, VEL had mixed performance relative to the market. It has underperformed in the last 3 months, returning +10.0% vs +10.1% return in SPY. But in the last 2 weeks, VEL shares have fared better than the market returning +8.3% compared to SPY +1.7%.
VEL support price is $17.15 and resistance is $19.23 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that VEL stock will trade within this expected range on the day.