American Express Company $AXP Shares Newly Bought by NBT Bank N.A.

NBT Bank N.A. purchased a new stake in shares of American Express Company (NYSE:AXP) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 13,991 shares of the payment services company’s stock, valued at approximately $4,255,000.

Several other institutional investors have also made changes to their positions in the company. Flputnam Investment Management Co. acquired a new stake in shares of American Express in the 2nd quarter valued at $12,879,000. State Street Corp increased its position in American Express by 40.2% during the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock worth $13,857,176,000 after buying an additional 11,739,541 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in American Express during the second quarter worth $5,172,000. Silicon Valley Capital Partners increased its position in American Express by 14.9% during the second quarter. Silicon Valley Capital Partners now owns 41,480 shares of the payment services company’s stock worth $14,030,000 after buying an additional 5,365 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in American Express during the second quarter valued at about $11,642,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

NYSE AXP opened at $324.52 on Friday. American Express Company has a 1 year low of $290.97 and a 1 year high of $387.49. The company has a fifty day simple moving average of $319.42 and a 200 day simple moving average of $326.03. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. The company has a market cap of $219.15 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.38 and a beta of 1.08.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, topping the consensus estimate of $4.41 by $0.12. The firm had revenue of $14.99 billion for the quarter, compared to the consensus estimate of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.08 EPS. On average, sell-side analysts predict that American Express Company will post 17.65 EPS for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, October 9th. American Express’s dividend payout ratio is 23.06%.

Key Stories Impacting American Express

Here are the key news stories impacting American Express this week:

• Positive Sentiment: Airbnb partnership expands cardholder benefits: American Express is adding more than 1 million Airbnb listings to Amex Travel, giving cardmembers the ability to earn and redeem rewards on a broader range of travel bookings. The move could improve premium-card retention and competitiveness as issuers enhance rewards programs. American Express brings Airbnb bookings and rewards to Amex Travel platform
• Positive Sentiment: Options market points to a potential post-earnings rally: Barchart data indicates options traders are positioning for AXP shares to move higher after the results, reflecting optimism ahead of the report. Ahead of American Express Earnings, Here’s What Barchart Data Says Comes Next for AXP Stock
• Positive Sentiment: New co-branded card broadens distribution: American Express, Albertsons and Imprint launched the Albertsons forU American Express Card, potentially expanding customer acquisition through the grocery retailer’s loyalty ecosystem. Albertsons Companies Introduces New Albertsons forU American Express Card
• Neutral Sentiment: Earnings expectations are the main near-term catalyst: Analysts reportedly expect approximately $4.50 in Q3 EPS and $20.12 billion in revenue. Investors will also assess card spending, credit trends, provisions and operating expenses before adjusting estimates. American Express Q3 earnings watchlist: revenue, card spending, costs
• Negative Sentiment: ETF selling and competitive pressure remain risks: ETFs were reported as net sellers of AXP, while strong performance by rival Visa highlights investor preference for competing payment networks. These factors could limit upside if American Express delivers only an in-line report. ETFs Are Net Sellers of American Express

Analysts Set New Price Targets

A number of brokerages have weighed in on AXP. TD Cowen reduced their price target on American Express from $338.00 to $335.00 and set a “hold” rating for the company in a research report on Tuesday, October 6th. JPMorgan Chase & Co. decreased their price target on American Express from $400.00 to $360.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. The Goldman Sachs Group increased their price objective on American Express from $400.00 to $410.00 and gave the company a “buy” rating in a report on Monday, July 6th. Piper Sandler raised their price objective on American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, BMO Capital Markets started coverage on American Express in a research note on Thursday, October 8th. They issued an “outperform” rating and a $380.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $365.63.

American Express Profile

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.