Morton Community Bank Reduces Position in American Express (NYSE:AXP)

Morton Community Bank decreased its holdings in American Express (NYSE:AXP) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,015 shares of the payment services company’s stock after selling 51 shares during the quarter. American Express makes up 1.2% of Morton Community Bank’s portfolio, making the stock its 19th biggest position. Morton Community Bank’s holdings in American Express were worth $4,403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXP. Gryphon Financial Partners LLC acquired a new position in shares of American Express in the 4th quarter worth approximately $224,000. Principal Securities Inc. acquired a new position in shares of American Express in the 4th quarter valued at about $1,935,000. Berger Financial Group Inc bought a new stake in shares of American Express during the 4th quarter valued at about $224,000. Versor Investments LP acquired a new stake in American Express during the fourth quarter worth about $824,000. Finally, Northwest Financial Advisors acquired a new position in American Express in the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP stock traded down $7.78 on Friday, reaching $244.06. 3,652,963 shares of the company were exchanged, compared to its average volume of 2,967,115. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a 12 month low of $140.91 and a 12 month high of $261.75. The stock’s fifty day moving average price is $244.57 and its 200 day moving average price is $234.15. The firm has a market capitalization of $175.55 billion, a PE ratio of 20.10, a PEG ratio of 1.45 and a beta of 1.21.

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

Analyst Ratings Changes

Several equities research analysts have commented on AXP shares. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company lifted their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Barclays boosted their price target on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Royal Bank of Canada upped their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $230.70.

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.