Mechanics Bank Trust Department Acquires 90 Shares of American Express (NYSE:AXP)

Mechanics Bank Trust Department boosted its holdings in shares of American Express (NYSE:AXP) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,670 shares of the payment services company’s stock after buying an additional 90 shares during the period. Mechanics Bank Trust Department’s holdings in American Express were worth $724,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Burns Matteson Capital Management LLC acquired a new stake in shares of American Express in the 3rd quarter worth about $217,000. Ritholtz Wealth Management increased its holdings in American Express by 9.1% during the 3rd quarter. Ritholtz Wealth Management now owns 8,864 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 739 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of American Express by 0.3% in the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 27,406 shares of the payment services company’s stock worth $7,433,000 after purchasing an additional 72 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of American Express by 0.8% in the third quarter. Valeo Financial Advisors LLC now owns 15,751 shares of the payment services company’s stock valued at $4,272,000 after purchasing an additional 122 shares in the last quarter. Finally, Wynn Capital LLC boosted its position in shares of American Express by 1.0% during the third quarter. Wynn Capital LLC now owns 15,010 shares of the payment services company’s stock valued at $4,071,000 after buying an additional 152 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

NYSE:AXP opened at $276.16 on Monday. The stock has a market cap of $198.64 billion, a P/E ratio of 22.75, a PEG ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The business’s 50-day moving average price is $256.44 and its two-hundred day moving average price is $242.17. American Express has a twelve month low of $140.91 and a twelve month high of $277.11.

American Express (NYSE:AXP) last announced its 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 net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same period in the previous year, the business posted $2.89 earnings per share. American Express’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.01%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AXP shares. Monness Crespi & Hardt raised their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Barclays upped their price objective on shares of American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Finally, Bank of America increased their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $239.96.

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.