Velocity Financial (VEL)

Based in Westlake Village, California, Velocity is a vertically integrated real estate finance company that primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. Velocity originates loans nationwide across an extensive network of independent mortgage brokers.

Company profile

Ticker

VEL

Exchange

NYSE

Website

www.velfinance.com

CEO

Christopher D. Farrar

Incorporated

Delaware

Location

California

Fiscal year end

Dec 31

Sector

Finance and Insurance > Savings Institutions

Industry (SIC)

Finance Services

American Express • Synchrony Financial • General Motors Financial • loanDepot • SoFi • Coinbase Global • Burford Capital Limited • Qudian • LexinFintech • Oportun Financial ...

Former names

Velocity Financial, LLC

SEC CIK

0001692376

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Velocity Commercial Capital, LLC • Century Health & Housing Capital, LLC • VCC ABF, LLC • VCC Mortgage Securities, LLC • VCC Capital Source Financing, LLC ...

VEL stock data

1M 1Y 5Y

News

From Benzinga Pro

89 Biggest Movers From Friday

21 Jun 22

Gainers Revlon, Inc. (NYSE: REV) jumped 91.3% to close at $3.73 on Friday after the company filed for Chapter 11 bankruptcy.

Citigroup Maintains Buy on Velocity Financial, Lowers Price Target to $13

13 May 22

Citigroup maintains Velocity Financial (NYSE:VEL) with a Buy and lowers the price target from $15 to $13.

Velocity Financial Q1 EPS $0.36 Beats $0.26 Estimate

5 May 22

Velocity Financial (NYSE:VEL) reported quarterly earnings of $0.36 per share which beat the analyst consensus estimate of $0.26 by 38.46 percent. This is a 80 percent increase over earnings of $0.20 per share from the

Earnings Scheduled For May 5, 2022

5 May 22

Velocity Financial's Earnings: A Preview

4 May 22

Press releases

From Benzinga Pro

Velocity Commercial Capital Securitization Ratings Upgraded and Affirmed by Kroll Bond Rating Agency

8 Jun 22

Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or the "Company"), a leading provider of small balance investor loans, today announced that Kroll Bond Rating Agency ("KBRA") has upgraded and affirmed the ratings on the

Velocity Financial, Inc. Reports First Quarter 2022 Results

5 May 22

First Quarter Highlights: Net income of $3.1 million and diluted earnings per share (EPS) of $0.09, down from $8.4 million and $0.24 per share, respectively, for 4Q21 Core net income(1) of $12.4 million and core

Velocity Financial, Inc. Announces Date of First Quarter 2022 Financial Results Webcast and Conference Call

28 Apr 22

Velocity Financial, Inc. (NYSE:VEL) ("Velocity" or "Company"), a leader in commercial investor loans, will release its first quarter 2022 results after the market close on Thursday, May 5, 2022. Velocity's executive

Analyst ratings and price targets

Last 3 months

Calendar

5 May 22

26 Jun 22

31 Dec 22

Financial summary

Financial statements Chart VEL financial data

Quarter (USD)	Mar 22	Dec 21	Sep 21	Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	47.47M	47.47M	47.47M	47.47M	47.47M	47.47M
Cash burn (monthly)	46K	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	132.06K	n/a	n/a	n/a	n/a	n/a
Cash remaining	47.33M	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	1029.0	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

VEL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
19 May 22	Dorika M Beckett	Common Stock	Grant	Acquire A	No	No	9.13	10,405	95K	19,242
19 May 22	Pitstick John	Common Stock	Grant	Acquire A	No	No	9.13	10,405	95K	44,242
19 May 22	Schaefer Joy L.	Common Stock	Grant	Acquire A	No	No	9.13	10,405	95K	26,709
14 Feb 22	Christopher D. Farrar	Performance Stock Units	Grant	Acquire A	No	No	12.63	45,000	568.35K	275,000
14 Feb 22	Christopher D. Farrar	Common Stock	Grant	Acquire A	No	No	12.63	45,000	568.35K	230,000
14 Feb 22	Fiona Tam	Performance Stock Units	Grant	Acquire A	No	No	12.63	3,750	47.36K	27,472
14 Feb 22	Fiona Tam	Common Stock	Grant	Acquire A	No	No	12.63	3,750	47.36K	23,722

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

VEL institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	46	51	-9.8%
Opened positions	6	9	-33.3%
Closed positions	11	1	+1000.0%
Increased positions	7	19	-63.2%
Reduced positions	20	14	+42.9%

13F shares	Current	Prev Q	Change
Total value	497.56M	584.27M	-14.8%
Total shares	43.2M	43.26M	-0.1%
Total puts	0	105.7K	EXIT
Total calls	0	246.8K	EXIT
Total put/call ratio	–	0.4	–

Largest owners	Shares	Value	Change
Snow Phipps	12.27M	$134.26M	0.0%
Pacific Investment Management	10.96M	$141.87M	0.0%
Allianz Asset Management GmbH	10.96M	$119.94M	0.0%
Beach Point Capital Management	3.07M	$33.61M	+5.8%
Adage Capital Partners GP, L.L.C.	1.13M	$12.41M	-2.7%
Wasatch Advisors	929.93K	$10.17M	-4.8%
WELLINGTON TRUST Co N A	582.79K	$7.98M	0.0%
Vanguard	547.64K	$5.99M	-0.4%
Wellington Management	507.23K	$5.55M	-13.0%
Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio	501.54K	$6.87M	0.0%

Largest transactions	Shares	Bought/sold	Change
Beach Point Capital Management	3.07M	+168.79K	+5.8%
Wellington Management	507.23K	-75.56K	-13.0%
Wasatch Advisors	929.93K	-47.17K	-4.8%
Adage Capital Partners GP, L.L.C.	1.13M	-31.69K	-2.7%
Bridgeway Capital Management	133.2K	-26.22K	-16.4%
STT State Street	112.04K	+21.97K	+24.4%
WFC Wells Fargo & Co.	0	-19.39K	EXIT
Dimensional Fund Advisors	19.25K	+19.25K	NEW
Millennium Management	0	-18.33K	EXIT
Almitas Capital	13.72K	+13.72K	NEW

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: arising, cease, Century, cessation, channel, Committee, confirmed, difficulty, FHA, forgiven, formation, fuel, Ginnie, housing, index, inflation, Interbank, language, linked, living, London, Mae, MSR, multifamily, NaN, oLevel, Omicron, Overnight, refinancing, renew, restructuring, retention, Russia, satisfaction, Settlement, SOFR, spike, subsidiary, suitable, surrendered, target, tied, transition, treasury, troubled, twenty, Ukraine, uncertainty, USD, Vintage, war, warrant, withholding

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From filing 10-Q 2022 Q1

Financial reports

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