NasdaqGS:FDEF

Stock Analysis Report

First Defiance Financial

Executive Summary

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.

Snowflake

Fundamentals

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has First Defiance Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.9%

NasdaqGS:FDEF

2.1%

US Mortgage

2.1%

US Market


1 Year Return

-17.6%

NasdaqGS:FDEF

-0.7%

US Mortgage

-0.04%

US Market

FDEF underperformed the Mortgage industry which returned -1.5% over the past year.

FDEF underperformed the Market in United States of America which returned 0.2% over the past year.


Share holder returns

FDEFIndustryMarket
7 Day0.9%2.1%2.1%
30 Day-1.9%-1.9%-3.2%
90 Day-5.0%0.6%2.8%
1 Year-15.4%-17.6%1.4%-0.7%2.2%-0.04%
3 Year27.5%19.2%32.9%24.1%41.5%32.3%
5 Year115.5%93.0%59.3%42.6%55.0%37.8%

Price Volatility Vs. Market

How volatile is First Defiance Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Defiance Financial undervalued based on future cash flows and its price relative to the stock market?

19%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

First Defiance Financial's share price is below the future cash flow value, but not at a moderate discount (< 20%).

First Defiance Financial's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

First Defiance Financial is good value based on earnings compared to the US Mortgage industry average.

First Defiance Financial is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

First Defiance Financial is poor value based on expected growth next year.


Price Based on Value of Assets

First Defiance Financial is overvalued based on assets compared to the US Mortgage industry average.


Next Steps

Future Growth

How is First Defiance Financial expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

0.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

First Defiance Financial's revenue is expected to grow by 5.3% yearly, however this is not considered high growth (20% yearly).

First Defiance Financial's earnings are expected to grow by 0.5% yearly, however this is not considered high growth (20% yearly).

First Defiance Financial's revenue growth is positive but not above the United States of America market average.

First Defiance Financial's earnings growth is positive but not above the United States of America market average.

First Defiance Financial's earnings growth is positive but not above the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if First Defiance Financial will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has First Defiance Financial performed over the past 5 years?

15.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First Defiance Financial's year on year earnings growth rate has been positive over the past 5 years.

First Defiance Financial's 1-year earnings growth is less than its 5-year average (13.1% vs 15.5%)

First Defiance Financial's earnings growth has not exceeded the US Mortgage industry average in the past year (13.1% vs 32.9%).


Return on Equity

First Defiance Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First Defiance Financial used its assets more efficiently than the US Mortgage industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if First Defiance Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is First Defiance Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

First Defiance Financial has an acceptable proportion of non-loan assets held.

First Defiance Financial has a sufficient allowance for bad loans.

First Defiance Financial's liabilities are made up of primarily low risk sources of funding.

First Defiance Financial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at First Defiance Financial are broadly funded by customer deposits.

First Defiance Financial has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is First Defiance Financial's current dividend yield, its reliability and sustainability?

2.95%

Expected Dividend Yield


Dividend Yield and Payments Analysis

First Defiance Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

First Defiance Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.2x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of First Defiance Financial's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Don Hileman (66yo)

5.6yrs

Tenure

US$1,036,640

Compensation

Mr. Donald P. Hileman, also known as Don, has been the Chief Executive Officer and President at First Defiance Financial Corp. since January 1, 2014. Mr. Hileman has been the Chief Executive Officer of Fir ...


CEO Compensation Analysis

Don's remuneration is lower than average for companies of similar size in United States of America.

Don's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.8yrs

Average Tenure

59yo

Average Age

The tenure for the First Defiance Financial management team is about average.


Board Age and Tenure

5.8yrs

Average Tenure

60yo

Average Age

The tenure for the First Defiance Financial board of directors is about average.


Insider Trading

First Defiance Financial individual insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellUS$26,71519 Aug 19
Donald Hileman
EntityIndividual
Role
Chief Executive Officer
President
Shares1,000
Max PriceUS$26.72
BuyUS$10,01624 Jun 19
Vincent Liuzzi
EntityIndividual
Shares365
Max PriceUS$27.44
SellUS$45,95103 Jun 19
John Reisner
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares1,700
Max PriceUS$27.03
SellUS$29,08220 May 19
Donald Hileman
EntityIndividual
Role
Chief Executive Officer
President
Shares1,000
Max PriceUS$29.08
BuyUS$26,64511 Mar 19
Mark Robison
EntityIndividual
Role
Member of the Board of Directors
Director
Shares887
Max PriceUS$30.04
SellUS$15,07526 Feb 19
John Reisner
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares560
Max PriceUS$26.92
SellUS$29,35226 Feb 19
Donald Hileman
EntityIndividual
Role
Chief Executive Officer
President
Shares1,000
Max PriceUS$29.35
SellUS$14,60013 Feb 19
Jean Hubbard
EntityIndividual
Role
Member of the Board of Directors
Director
Shares500
Max PriceUS$29.20
BuyUS$26,76020 Dec 18
Thomas Reineke
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,000
Max PriceUS$26.76
BuyUS$3,38731 Oct 18
Michael Mulford
EntityIndividual
Shares125
Max PriceUS$27.10

Ownership Breakdown


Management Team

  • Sheldon Brodsky (75yo)

    President of subs

    • Tenure: 0.0yrs
    • Compensation: US$430.45k
  • Gregory Allen (55yo)

    Market Area Executive for Fort Wayne

    • Tenure: 1.4yrs
    • Compensation: US$544.76k
  • Don Hileman (66yo)

    President

    • Tenure: 5.6yrs
    • Compensation: US$1.04m
  • Paul Nungester (45yo)

    CFO & Executive VP

    • Tenure: 0.3yrs
  • Lisa Christy

    • Tenure: 0.0yrs
  • John Reisner (63yo)

    Executive VP

    • Tenure: 5.9yrs
    • Compensation: US$397.36k
  • Danielle Figley

    Corporate Secretary

    • Tenure: 0.0yrs
  • Sharon Davis (37yo)

    Executive VP & Director of Human Resources

    • Tenure: 3.8yrs
  • Tera Murphy

    VP & Marketing Director

    • Tenure: 0.0yrs
  • Gary Verhoff

    Compliance Officer

    • Tenure: 0.0yrs

Board Members

  • Douglas Burgei (64yo)

    Director

    • Tenure: 24.0yrs
    • Compensation: US$49.19k
  • Don Hileman (66yo)

    President

    • Tenure: 5.6yrs
    • Compensation: US$1.04m
  • Barb Mitzel (66yo)

    Director

    • Tenure: 11.3yrs
    • Compensation: US$48.94k
  • John Bookmyer (54yo)

    Chairman & Lead Independent Director

    • Tenure: 1.1yrs
    • Compensation: US$60.44k
  • Mark Robison (54yo)

    Director

    • Tenure: 1.6yrs
    • Compensation: US$47.14k
  • Sam Strausbaugh (55yo)

    Director

    • Tenure: 13.6yrs
    • Compensation: US$52.94k
  • Bob Beach (66yo)

    Director

    • Tenure: 2.5yrs
    • Compensation: US$49.44k
  • Jean Hubbard (61yo)

    Director

    • Tenure: 11.3yrs
    • Compensation: US$54.44k
  • Chuck Niehaus (59yo)

    Director

    • Tenure: 5.1yrs
    • Compensation: US$49.44k
  • Thomas Reineke (59yo)

    Director

    • Tenure: 3.3yrs
    • Compensation: US$48.44k

Company Information

First Defiance Financial Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Defiance Financial Corp.
  • Ticker: FDEF
  • Exchange: NasdaqGS
  • Founded: 1995
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$529.500m
  • Shares outstanding: 19.73m
  • Website: https://www.fdef.com

Number of Employees


Location

  • First Defiance Financial Corp.
  • 601 Clinton Street
  • Defiance
  • Ohio
  • 43512
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FDEFNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDNov 1995

Biography

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 check ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/22 23:36
End of Day Share Price2019/08/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.