First Defiance Financial (NASDAQ:FDEF) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of First Defiance Financial (NASDAQ:FDEF) from a buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “First Defiance Financial Corp. is a unitary thrift holding company that, through its subsidiaries focuses on traditional banking, mortgage banking, and property and casualty, life and group health insurance products. Their traditional banking activities include originating and servicing residential, commercial, and consumer loans and providing a broad range of depository services. “

Other equities research analysts have also recently issued research reports about the stock. Sandler O’Neill upgraded shares of First Defiance Financial from a hold rating to a buy rating in a research report on Wednesday, September 11th. BidaskClub upgraded shares of First Defiance Financial from a sell rating to a hold rating in a research report on Tuesday, December 31st.

FDEF traded up $0.23 during midday trading on Friday, hitting $31.95. The company had a trading volume of 150,658 shares, compared to its average volume of 86,187. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.01. The company has a market capitalization of $625.81 million, a PE ratio of 13.11 and a beta of 0.99. First Defiance Financial has a twelve month low of $25.00 and a twelve month high of $32.39. The firm’s 50-day simple moving average is $30.53 and its 200-day simple moving average is $28.86.

First Defiance Financial (NASDAQ:FDEF) last posted its quarterly earnings data on Monday, October 21st. The savings and loans company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The firm had revenue of $40.73 million during the quarter, compared to analysts’ expectations of $40.15 million. First Defiance Financial had a net margin of 27.21% and a return on equity of 12.03%. As a group, sell-side analysts anticipate that First Defiance Financial will post 2.49 EPS for the current fiscal year.

In other news, EVP Timothy K. Harris sold 2,831 shares of First Defiance Financial stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $31.51, for a total transaction of $89,204.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald P. Hileman sold 1,000 shares of First Defiance Financial stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $30.02, for a total transaction of $30,020.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,531 shares of company stock valued at $140,449. 2.36% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. FMR LLC grew its position in shares of First Defiance Financial by 347.5% during the 1st quarter. FMR LLC now owns 1,544 shares of the savings and loans company’s stock worth $44,000 after buying an additional 1,199 shares during the period. Meeder Asset Management Inc. grew its holdings in First Defiance Financial by 25.9% during the third quarter. Meeder Asset Management Inc. now owns 2,151 shares of the savings and loans company’s stock valued at $62,000 after purchasing an additional 442 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First Defiance Financial by 121.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,161 shares of the savings and loans company’s stock valued at $63,000 after purchasing an additional 1,187 shares during the period. Macquarie Group Ltd. acquired a new position in First Defiance Financial during the second quarter valued at approximately $140,000. Finally, Smith Asset Management Group LP grew its holdings in First Defiance Financial by 117.6% during the second quarter. Smith Asset Management Group LP now owns 6,142 shares of the savings and loans company’s stock valued at $175,000 after purchasing an additional 3,320 shares during the period. Institutional investors own 65.40% of the company’s stock.

About First Defiance Financial

First Defiance Financial Corp. operates as a unitary thrift holding company that provides community-based financial services in northwest Ohio, northeast Indiana, and southeastern Michigan. It offers checking accounts, money market accounts, savings accounts, term certificate accounts, demand deposits, and certificates of deposits, as well as certificate of deposit account registry service; and commercial real estate, commercial, consumer finance, 1-4 family residential real estate, construction, and home equity and improvement loans.

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