Eastern Bank Buys 3,260 Shares of American Express Company $AXP

Eastern Bank grew its stake in shares of American Express Company (NYSE:AXP) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,240 shares of the payment services company’s stock after purchasing an additional 3,260 shares during the quarter. Eastern Bank’s holdings in American Express were worth $44,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gilliland Jeter Wealth Management LLC raised its holdings in shares of American Express by 4.8% in the 4th quarter. Gilliland Jeter Wealth Management LLC now owns 633 shares of the payment services company’s stock valued at $234,000 after purchasing an additional 29 shares during the period. Cornerstone Advisory LLC lifted its position in shares of American Express by 2.9% in the fourth quarter. Cornerstone Advisory LLC now owns 1,017 shares of the payment services company’s stock valued at $376,000 after buying an additional 29 shares during the last quarter. Total Clarity Wealth Management Inc. boosted its stake in shares of American Express by 3.4% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 874 shares of the payment services company’s stock worth $323,000 after acquiring an additional 29 shares during the period. Dover Advisors LLC increased its holdings in shares of American Express by 0.4% during the 4th quarter. Dover Advisors LLC now owns 7,977 shares of the payment services company’s stock worth $2,951,000 after acquiring an additional 29 shares during the last quarter. Finally, Invenio Wealth Partners LLC raised its stake in American Express by 3.9% in the 3rd quarter. Invenio Wealth Partners LLC now owns 776 shares of the payment services company’s stock valued at $258,000 after acquiring an additional 29 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

Shares of NYSE:AXP opened at $344.39 on Tuesday. The firm has a market cap of $232.57 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. American Express Company has a 52 week low of $290.63 and a 52 week high of $387.49. The firm’s fifty day moving average is $335.62 and its 200-day moving average is $328.46. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, beating analysts’ consensus estimates of $4.41 by $0.12. American Express had a return on equity of 34.12% and a net margin of 15.07%.The firm had revenue of $14.99 billion for the quarter, compared to analyst estimates of $19.70 billion. During the same quarter in the previous year, the company posted $4.08 EPS. The business’s revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Sell-side analysts predict that American Express Company will post 17.67 earnings per share for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.80 annualized dividend and a dividend yield of 1.1%. American Express’s dividend payout ratio (DPR) is 23.06%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of American Express from $360.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. upgraded American Express from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $328.00 to $400.00 in a research report on Monday, July 13th. BTIG Research dropped their price objective on shares of American Express from $324.00 to $315.00 and set a “sell” rating for the company in a research note on Monday, July 27th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Thursday, June 18th. Finally, TD Cowen upped their price objective on shares of American Express from $330.00 to $338.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $372.84.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.