Velocity Financial, Inc. Reports Third Quarter 2024 Results
Velocity Financial, Inc. (VEL)
Company Research
Source: Business Wire
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 3Q23Core 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 3Q23Loan production of $476.8 million in UPB, a 12.9% and 64.1% increase from 2Q24 and 3Q23, respectivelyNonperforming 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, respectivelyResolutions of nonperforming loans (NPL) and real estate owned (REO) totaled $68.6 million in UPBRealized gains of $2.3 million or 103.4% of UPB resolvedPortfolio net interest margin (NIM) of 3.60%, an increase of 6 bps Q/Q and 26 bps from 3.34% for 3Q23Completed the VCC 2024-4 securitization totaling $253.6 million of securities issuedCollapsed the 2020-2 securitization allowing us to redeploy $25.1 million in retai
Show less
Read more
Impact Snapshot
Event Time:
VEL
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
VEL alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
VEL alerts
High impacting Velocity Financial, Inc. news events
Weekly update
A roundup of the hottest topics
VEL
News
- Velocity Financial Inc (VEL) Q3 2024 Earnings Call Highlights: Record Origination Volumes and ... [Yahoo! Finance]Yahoo! Finance
- Velocity Financial, Inc. Announces Date of Third Quarter 2024 Financial Results Webcast and Conference CallBusiness Wire
- Plunge in Mortgage Rates Spurs Refinancing Surge - Consider PFSI, VEL, GHLD [Yahoo! Finance]Yahoo! Finance
- Zacks Industry Outlook Highlights Velocity Financial, Onity Group and PennyMac Financial Services [Yahoo! Finance]Yahoo! Finance
VEL
Earnings
- 11/7/24 - In-Line
VEL
Analyst Actions
- 11/12/24 - BTIG
VEL
Sec Filings
- 12/16/24 - Form EFFECT
- 12/13/24 - Form 8-K
- 12/13/24 - Form 424B5
- VEL's page on the SEC website