Velocity Financial hits all-time high after Q4 profit beat

Velocity Financial

07/03/2025 18:05

** Shares of real estate finance company Velocity Financial VEL.N jump as much as 11.1%, hitting a record high

** Stock last up 7.4% at $20.28, set for its best day since Nov. 2023, if gains hold

** Late Thursday, VEL reported Q4 core income above analysts' estimates, after missing expectations in the prior quarter

** Wells Fargo Securities says it was good Q4 for VEL as they increased loan production and net interest margin ticked higher

** VEL management says it is seeing strong loan demand as banks limit their lending activities in its target markets

** Stock up 3.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))