First National Bank of South Miami Sells 752 Shares of American Express (NYSE:AXP)

First National Bank of South Miami lessened its stake in shares of American Express (NYSE:AXP) by 14.1% in the second quarter, Holdings Channel reports. The institutional investor owned 4,600 shares of the payment services company’s stock after selling 752 shares during the period. First National Bank of South Miami’s holdings in American Express were worth $801,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management bought a new position in American Express during the 1st quarter valued at approximately $448,000. Chelsea Counsel Co. bought a new stake in American Express during the 4th quarter valued at about $30,000. Steward Financial Group LLC increased its stake in American Express by 104.9% during the 1st quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. Focused Wealth Management Inc increased its stake in American Express by 1,400.0% during the 1st quarter. Focused Wealth Management Inc now owns 225 shares of the payment services company’s stock valued at $37,000 after purchasing an additional 210 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in American Express by 44.8% during the 1st quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of a number of analyst reports. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research note on Thursday, July 6th. Stephens reissued an “underweight” rating and issued a $146.00 target price on shares of American Express in a report on Tuesday, July 18th. Piper Sandler lowered American Express from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $172.00 to $149.00 in a report on Monday, July 24th. StockNews.com started coverage on American Express in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, 22nd Century Group reiterated a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $173.06.

American Express Trading Down 2.5 %

Shares of American Express stock opened at $159.63 on Tuesday. The firm has a market cap of $117.56 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.03 and a beta of 1.19. The business has a 50-day moving average price of $164.69 and a 200-day moving average price of $163.63. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.75. American Express has a twelve month low of $130.65 and a twelve month high of $182.15.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 21st. The payment services company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.08. American Express had a net margin of 12.99% and a return on equity of 29.26%. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $15.41 billion. During the same period last year, the firm posted $2.57 earnings per share. American Express’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 11.13 EPS for the current fiscal year.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.