Shares of real estate finance company Velocity Financial, Inc. (NYSE: VEL) closed nearly 0.5% higher on Friday after the company released fourth-quarter 2021 earnings guidance that beat estimates.
Velocity expects to report adjusted EPS of between $0.29 and $0.30, compared to analyst expectations of $0.23.
As of December 31, 2021, total loans held for investment are expected to be around $2.5 billion in unpaid principal balance (UPB), up from $2.3 billion as of September 30, 2021.
Nonperforming loans are projected to range between 10.3% and 10.8% of total loans.
About Velocity Financial
Headquartered in California, Velocity Financial is a vertically-integrated real estate finance company that originates and manages investor loans secured by 1-4 unit residential rental and commercial properties.
Overall, the stock has a Strong Buy consensus rating based on 3 Buys. The average Velocity Financial stock price forecast of $15.67 implies 21.8% upside potential. Shares have gained 78.8% over the past year.
The company is scheduled to release its fourth-quarter results on March 10, 2022, after the market close.
Download the TipRanks mobile app now.
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.