Fifth Third Bancorp Takes $786,000 Position in Dave Inc. $DAVE

Fifth Third Bancorp purchased a new position in shares of Dave Inc. (NASDAQ:DAVE) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,515 shares of the fintech company’s stock, valued at approximately $786,000.

Other large investors also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP raised its position in shares of Dave by 1.6% in the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock valued at $767,000 after purchasing an additional 62 shares during the period. JPMorgan Chase & Co. boosted its holdings in Dave by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock worth $2,412,000 after buying an additional 65 shares during the period. Blue Trust Inc. grew its stake in Dave by 106.8% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after buying an additional 79 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Dave by 2.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 3,908 shares of the fintech company’s stock valued at $865,000 after buying an additional 100 shares in the last quarter. Finally, Westend Capital Management LLC grew its stake in Dave by 100.0% in the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barrington Research increased their target price on Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, June 12th. Citigroup reiterated an “outperform” rating on shares of Dave in a research report on Thursday, July 9th. Citizens Jmp boosted their price objective on Dave from $365.00 to $450.00 and gave the company a “market outperform” rating in a research note on Thursday, July 9th. UBS Group increased their price objective on Dave from $300.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Evercore started coverage on Dave in a research note on Wednesday, May 27th. They issued a “hold” rating and a $260.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $379.40.

Dave Stock Performance

Dave stock opened at $405.65 on Tuesday. The firm’s fifty day moving average price is $331.74 and its 200-day moving average price 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 P/E ratio of 26.09 and a beta of 3.82. Dave Inc. has a fifty-two week low of $152.21 and a fifty-two week high of $458.25.

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. Dave had a net margin of 37.22% and a return on equity of 77.70%. The company had revenue of $158.41 million during the quarter, compared to analyst estimates of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, equities research analysts expect that Dave Inc. will post 15.66 earnings per share for the current fiscal year.

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.