Citigroup Maintains Neutral Rating for Velocity Financial: Here's What You Need To Know

Citigroup has decided to maintain its Neutral rating of Velocity Financial VEL and lower its price target from $14.00 to $13.00.

Shares of Velocity Financial are trading up 0.0% over the last 24 hours, at $11.34 per share.

A move to $13.00 would account for a 14.64% increase from the current share price.

About Velocity Financial

Velocity Financial Inc is a United States-based real estate finance company. The company primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. The company earns revenue in the form of interest income. It operates in New York, California, Florida, New Jersey, and other states.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.