UPDATE: KBW Color On FDEF Rating Change, PT Increase

KBW, which raised its PT and rating on shares of First Defiance Financial Corp. FDEF, is providing some color on the stock.

“We are transferring coverage of First Defiance to John Barber from Eileen Rooney,” KBW writes. “We are also adjusting our earnings estimates.

“Given that FDEF trades at a discount to tangible book value, we believe the shares represent an attractive opportunity given that the company remained profitable throughout-the-cycle, has a 7.1% TCE ratio and manageable credit.”

First Defiance Financial Corp. closed Friday at $14.00.