Velocity Financial reports shareholder meeting results

In a recent filing with the Securities and Exchange Commission, Velocity Financial (NYSE:VEL), Inc., a $599.56 million market cap company currently trading near its 52-week low of $16.12, disclosed the outcomes of its Annual Meeting of Shareholders held on May 23, 2025. According to InvestingPro analysis, the company appears undervalued based on its Fair Value model. The report, dated May 28, 2025, detailed the voting results on several key proposals.

During the meeting, all of Velocity Financial’s directors were re-elected with a substantial majority. The detailed vote counts for each director were provided, indicating strong shareholder support.

Additionally, shareholders approved the compensation of named executive officers as disclosed in the company’s compensation disclosure rules. This included the Compensation Discussion and Analysis, compensation tables, and related narrative disclosure.

The appointment of RSM US LLP as the company’s independent auditor for the fiscal year 2025 was ratified, receiving overwhelming support from the votes cast.

Another significant development was the approval of the increase to the share reserve under Velocity Financial’s 2020 Omnibus Incentive Plan. The proposal received a favorable vote, allowing the company to expand its share reserve as planned.

The filing also included an exhibit, which is the Cover Page Interactive File embedded with the Inline XBRL document.

This report provides essential information for investors and stakeholders of Velocity Financial, Inc., a company specializing in finance services. The results of the shareholder meeting reflect the confidence of its investors in the current board and management’s strategic direction. With a strong current ratio of 8.08 and diluted earnings per share of $1.94, the company demonstrates solid financial performance. The approval of the executive compensation and the ratification of the independent auditor signify shareholder endorsement of the company’s governance and financial oversight practices. For deeper insights into Velocity Financial’s performance metrics and growth potential, investors can access comprehensive analysis through InvestingPro’s detailed research reports.

The SEC filing serves as the source for the information reported.

In other recent news, Velocity Financial Inc. reported its first-quarter 2025 earnings, showing a mixed performance with a miss on earnings per share (EPS) but a notable beat on revenue. The company reported an EPS of $0.51, falling short of the $0.56 forecast, yet its revenue of $69.1 million surpassed expectations of $55.3 million. This revenue figure represents a 27% year-over-year increase, highlighting strong operational performance despite the EPS miss. The company’s loan portfolio grew by 7.8% to $5.5 billion, driven by a significant increase in its small commercial lending division. Velocity Financial has set a target to expand its loan portfolio to $10 billion over the next five years. The company plans to maintain its current production pace and expects new origination yields to remain stable. Additionally, Velocity Financial is considering modest headcount increases and potential office expansions to the Midwest or Texas. These recent developments reflect Velocity Financial’s strategic efforts to enhance its market position and operational capabilities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.