First Defiance Financial (FDEF) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of First Defiance Financial (NASDAQ:FDEF) from a buy rating to a hold rating in a report published on Tuesday morning.
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. “
FDEF has been the topic of several other research reports. Keefe, Bruyette & Woods restated a hold rating and set a $60.00 price target on shares of First Defiance Financial in a research note on Friday, December 22nd. Sandler O’Neill restated a buy rating and set a $64.00 price target on shares of First Defiance Financial in a research note on Tuesday, January 23rd. BidaskClub raised First Defiance Financial from a sell rating to a hold rating in a research report on Tuesday, January 30th. Finally, ValuEngine downgraded First Defiance Financial from a buy rating to a hold rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. First Defiance Financial presently has a consensus rating of Hold and an average price target of $61.33.
First Defiance Financial (NASDAQ:FDEF) last announced its quarterly earnings results on Monday, January 22nd. The savings and loans company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05. The firm had revenue of $35.28 million for the quarter, compared to analyst estimates of $35.00 million. First Defiance Financial had a return on equity of 9.59% and a net margin of 21.77%. analysts forecast that First Defiance Financial will post 4.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 6th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.06%. This is an increase from First Defiance Financial’s previous quarterly dividend of $0.25. First Defiance Financial’s dividend payout ratio (DPR) is presently 37.27%.
In related news, insider Gregory R. Allen sold 2,193 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $56.56, for a total transaction of $124,036.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John R. Reisner sold 850 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $58.17, for a total value of $49,444.50. Following the sale, the insider now directly owns 4,729 shares in the company, valued at approximately $275,085.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,393 shares of company stock worth $193,263. 3.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of FDEF. SG Americas Securities LLC bought a new stake in First Defiance Financial during the fourth quarter valued at about $119,000. Handelsbanken Fonder AB bought a new stake in First Defiance Financial during the fourth quarter valued at about $208,000. Highbridge Capital Management LLC acquired a new stake in First Defiance Financial in the third quarter worth about $226,000. MetLife Investment Advisors LLC acquired a new stake in First Defiance Financial in the fourth quarter worth about $262,000. Finally, OxFORD Asset Management LLP acquired a new stake in First Defiance Financial in the third quarter worth about $273,000. 64.38% of the stock is currently owned by institutional investors.
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First Defiance Financial Company Profile
First Defiance Financial Corp. is a unitary thrift holding company that focuses on traditional banking and property and casualty, life and group health insurance products. The Company operates through its subsidiaries, First Federal Bank of the Midwest (First Federal or the Bank), First Insurance Group of the Midwest, Inc (First Insurance) and First Defiance Risk Management Inc (First Defiance Risk Management).
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