FineMark National Bank & Trust Has $2.06 Million Stock Position in American Express (NYSE:AXP)

FineMark National Bank & Trust raised its holdings in shares of American Express (NYSE:AXP) by 6.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,899 shares of the payment services company’s stock after purchasing an additional 575 shares during the period. FineMark National Bank & Trust’s holdings in American Express were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Sawgrass Asset Management LLC boosted its position in shares of American Express by 0.4% in the 2nd 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 last quarter. Spire Wealth Management boosted its holdings in American Express by 1.0% during the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock worth $983,000 after buying an additional 42 shares during the last quarter. Ignite Planners LLC grew its position in shares of American Express by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC increased its stake in shares of American Express by 4.1% in the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after acquiring an additional 43 shares during the last quarter. Finally, Beacon Capital Management LLC raised its position 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 acquiring an additional 43 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

Shares of AXP opened at $251.73 on Friday. 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 company’s fifty day simple moving average is $244.32 and its 200 day simple moving average is $233.78. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. The company has a market cap of $181.07 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.45 and a beta of 1.21.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the firm earned $2.89 EPS. American Express’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 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXP has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Citigroup started coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. BTIG Research started coverage on American Express in a report on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $230.70.

About American Express

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.