Fifth Third Bancorp Makes New $786,000 Investment in Dave Inc. $DAVE

Fifth Third Bancorp purchased a new stake in shares of Dave Inc. (NASDAQ:DAVE) in the 1st quarter, HoldingsChannel reports. The firm purchased 4,515 shares of the fintech company’s stock, valued at approximately $786,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DAVE. Hsbc Holdings PLC lifted its stake in shares of Dave by 13.5% in the 1st quarter. Hsbc Holdings PLC now owns 2,864 shares of the fintech company’s stock valued at $498,000 after acquiring an additional 341 shares during the last quarter. Moran Wealth Management LLC grew its position in Dave by 8.0% during the 1st quarter. Moran Wealth Management LLC now owns 4,859 shares of the fintech company’s stock worth $846,000 after acquiring an additional 358 shares during the last quarter. New York State Teachers Retirement System increased its stake in Dave by 13.8% in the 1st quarter. New York State Teachers Retirement System now owns 956 shares of the fintech company’s stock worth $166,000 after purchasing an additional 116 shares during the period. Inspire Investing LLC purchased a new position in Dave in the 1st quarter worth approximately $1,371,000. Finally, Janney Montgomery Scott LLC lifted its position in Dave by 131.9% in the first quarter. Janney Montgomery Scott LLC now owns 3,107 shares of the fintech company’s stock valued at $541,000 after purchasing an additional 1,767 shares during the last quarter. 18.01% of the stock is owned by institutional investors.

Dave Stock Performance

Dave stock opened at $405.65 on Tuesday. Dave Inc. has a fifty-two week low of $152.21 and a fifty-two week high of $458.25. The stock’s 50 day simple moving average is $331.74 and its two-hundred day simple moving average is $250.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 26.09 and a beta of 3.82.

Dave (NASDAQ:DAVE) last announced its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.78. The firm had revenue of $158.41 million during the quarter, compared to analyst estimates of $153.67 million. Dave had a return on equity of 77.70% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, analysts expect that Dave Inc. will post 15.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DAVE has been the subject of a number of analyst reports. Evercore assumed coverage on Dave in a research note on Wednesday, May 27th. They set a “hold” rating and a $260.00 price objective for the company. Weiss Ratings raised shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 17th. B. Riley Financial upped their price target on shares of Dave from $358.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. UBS Group increased their price target on shares of Dave from $300.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Barrington Research boosted their price objective on shares of Dave from $290.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $379.40.

Insider Buying and Selling at Dave

In other Dave news, CEO Jason Wilk sold 8,474 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the transaction, the chief executive officer owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dan Preston sold 275 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the transaction, the director directly owned 5,466 shares of the company’s stock, valued at $1,353,654.90. This represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 28.48% of the stock is owned by corporate insiders.

Dave Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.