Morton Community Bank Has $4.40 Million Holdings in American Express (NYSE:AXP)

Morton Community Bank decreased its position in shares of American Express (NYSE:AXP) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 19,015 shares of the payment services company’s stock after selling 51 shares during the period. American Express comprises about 1.2% of Morton Community Bank’s investment portfolio, making the stock its 19th largest holding. Morton Community Bank’s holdings in American Express were worth $4,403,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sawgrass Asset Management LLC lifted its position in American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 41 shares during the period. Spire Wealth Management boosted its stake in American Express by 1.0% in the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after buying an additional 42 shares in the last quarter. Ignite Planners LLC grew its position in American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 43 shares during the last quarter. Willner & Heller LLC lifted its holdings in shares of American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its stake in shares of American Express by 18.9% in the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Monness Crespi & Hardt boosted their target price on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America downgraded shares of American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target for the company. in a research note on Wednesday, August 21st. Jefferies Financial Group lifted their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Finally, Citigroup started coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $230.70.

American Express Stock Performance

Shares of NYSE AXP traded down $7.78 during midday trading on Friday, hitting $244.06. The company’s stock had a trading volume of 3,652,963 shares, compared to its average volume of 2,967,115. The firm has a market capitalization of $175.55 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.45 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 stock has a fifty day moving average price of $244.57 and a 200 day moving average price of $234.15. American Express has a one year low of $140.91 and a one year high of $261.75.

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

American Express 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.