Bank of America Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

Key Points

• Bank of America raised its price target on American Express to $391 from $387 and kept a buy rating, implying about 16.27% upside from the prior close.
• Analyst sentiment is mixed overall: several firms recently adjusted targets and ratings, and MarketBeat shows an average Hold rating with a mean price target of $368.70.
• American Express reported better-than-expected EPS of $4.28 last quarter and revenue that rose 11.4% year over year, while institutional investors continue to hold a large majority of the shares.

American Express (NYSE:AXP) had its target price lifted by research analysts at Bank of America from $387.00 to $391.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the payment services company's stock. Bank of America's price objective points to a potential upside of 16.27% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings lowered American Express from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 15th. Morgan Stanley dropped their price objective on American Express from $395.00 to $385.00 and set an "equal weight" rating for the company in a research note on Thursday, April 16th. Piper Sandler assumed coverage on American Express in a research note on Monday, June 29th. They set an "overweight" rating and a $396.00 target price on the stock. Evercore set a $380.00 price target on American Express in a report on Monday. Finally, Truist Financial upped their price target on American Express from $360.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, American Express has an average rating of "Hold" and an average target price of $368.70.

American Express Price Performance

Shares of NYSE:AXP opened at $336.29 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.57 and a quick ratio of 1.56. American Express has a 1-year low of $288.34 and a 1-year high of $387.49. The company has a market capitalization of $229.46 billion, a P/E ratio of 20.98, a P/E/G ratio of 1.44 and a beta of 1.04. The firm's 50 day simple moving average is $324.31 and its two-hundred day simple moving average is $332.29.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The payment services company reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.01 by $0.27. The firm had revenue of $14.21 billion during the quarter, compared to analysts' expectations of $18.60 billion. American Express had a net margin of 15.13% and a return on equity of 33.95%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.64 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Research analysts expect that American Express will post 17.65 EPS for the current fiscal year.

Hedge Funds Weigh In On American Express

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXP. Brighton Jones LLC boosted its position in shares of American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock valued at $1,924,000 after acquiring an additional 1,273 shares during the last quarter. Sivia Capital Partners LLC increased its position in American Express by 13.0% in the second quarter. Sivia Capital Partners LLC now owns 1,738 shares of the payment services company's stock worth $554,000 after purchasing an additional 200 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in American Express during the second quarter valued at $428,000. Howland Capital Management LLC raised its stake in American Express by 4.2% during the second quarter. Howland Capital Management LLC now owns 2,216 shares of the payment services company's stock valued at $707,000 after purchasing an additional 90 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its position in American Express by 19.9% during the second quarter. HUB Investment Partners LLC now owns 2,898 shares of the payment services company's stock valued at $924,000 after purchasing an additional 481 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

About American Express

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.

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