Zacks Investment Research Lowers First Defiance Financial (NASDAQ:FDEF) to Sell

Zacks Investment Research cut shares of First Defiance Financial (NASDAQ:FDEF) from a hold rating to a sell rating in a report released on Thursday 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 analysts have also issued reports about the stock. BidaskClub raised shares of Kandi Technologies Group from a strong sell rating to a sell rating in a report on Friday, May 17th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd.

Shares of NASDAQ FDEF opened at $27.83 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.99. First Defiance Financial has a 12 month low of $22.78 and a 12 month high of $35.00. The company’s 50 day simple moving average is $27.75. The firm has a market cap of $548.81 million, a PE ratio of 12.54 and a beta of 0.98.

First Defiance Financial (NASDAQ:FDEF) last announced its quarterly earnings data on Monday, April 22nd. The savings and loans company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. First Defiance Financial had a net margin of 27.21% and a return on equity of 11.51%. The business had revenue of $39.08 million during the quarter, compared to analysts’ expectations of $36.40 million. Sell-side analysts forecast that First Defiance Financial will post 2.36 earnings per share for the current fiscal year.

In other news, insider John R. Reisner sold 1,700 shares of First Defiance Financial stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $27.03, for a total transaction of $45,951.00. Following the completion of the transaction, the insider now directly owns 365 shares of the company’s stock, valued at approximately $9,865.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Donald P. Hileman sold 1,000 shares of First Defiance Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $29.08, for a total transaction of $29,080.00. Following the transaction, the insider now directly owns 72,960 shares of the company’s stock, valued at $2,121,676.80. The disclosure for this sale can be found here. 2.36% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in First Defiance Financial in the 1st quarter worth $28,000. FMR LLC increased its holdings in First Defiance Financial by 347.5% in the 1st quarter. FMR LLC now owns 1,544 shares of the savings and loans company’s stock worth $44,000 after acquiring an additional 1,199 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in First Defiance Financial in the 1st quarter worth $95,000. BNP Paribas Arbitrage SA increased its holdings in First Defiance Financial by 384.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,175 shares of the savings and loans company’s stock worth $120,000 after acquiring an additional 3,313 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in First Defiance Financial in the 1st quarter worth $142,000. 63.94% of the stock is owned by institutional investors.

First Defiance Financial Company Profile

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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