American Express (NYSE:AXP) Given New $265.00 Price Target at Bank of America

American Express (NYSE:AXP) had its price objective boosted by Bank of America from $263.00 to $265.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the payment services company’s stock.

Several other analysts have also recently issued reports on AXP. Jefferies Financial Group boosted their price objective on shares of American Express from $225.00 to $235.00 and gave the company a hold rating in a research note on Tuesday, July 9th. Wells Fargo & Company upped their price target on American Express from $275.00 to $285.00 and gave the stock an overweight rating in a research note on Tuesday, July 9th. BTIG Research started coverage on American Express in a research note on Friday, June 7th. They issued a neutral rating on the stock. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They set a neutral rating and a $260.00 target price for the company. Finally, Monness Crespi & Hardt lifted their price target on shares of American Express from $260.00 to $265.00 and gave the company a buy rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $230.78.

American Express Trading Up 1.7 %

Shares of AXP stock opened at $265.49 on Tuesday. The company has a market capitalization of $190.97 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average price of $247.42 and a 200 day moving average price of $236.22. American Express has a twelve month low of $140.91 and a twelve month high of $267.22.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 EPS. Research analysts forecast that American Express will post 13.12 earnings per share for the current fiscal year.

Institutional Trading of American Express

A number of hedge funds and other institutional investors have recently made changes to their positions in AXP. Gryphon Financial Partners LLC acquired a new stake in shares of American Express in the 4th quarter valued at about $224,000. Prairieview Wealth Partners LLC acquired a new stake in American Express during the fourth quarter valued at approximately $341,000. Level Four Advisory Services LLC lifted its holdings in American Express by 2.3% during the 4th quarter. Level Four Advisory Services LLC now owns 2,188 shares of the payment services company’s stock worth $410,000 after buying an additional 50 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in shares of American Express by 4.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,321 shares of the payment services company’s stock worth $2,496,000 after acquiring an additional 531 shares in the last quarter. Finally, Sachetta LLC bought a new stake in shares of American Express in the 4th quarter valued at approximately $29,000. Institutional investors own 84.33% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.