American Express Company $AXP Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its American Express stake by 8.4% in the second quarter, adding 614,981 shares to hold 7.97 million shares valued at approximately $2.70 billion. Institutional investors collectively own 84.33% of AXP.
• Analysts maintain a generally positive outlook, with American Express receiving a consensus “Moderate Buy” rating and an average price target of $373.32. Recent targets range from $338 to $405.
• American Express reported quarterly EPS of $4.53, exceeding estimates of $4.41, while revenue rose 10% year over year to $19.64 billion. The company issued fiscal 2026 EPS guidance of $17.30 to $17.90.

Bank of America Corp DE boosted its position in shares of American Express Company (NYSE:AXP) by 8.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,969,555 shares of the payment services company's stock after acquiring an additional 614,981 shares during the period. Bank of America Corp DE owned about 1.18% of American Express worth $2,695,702,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Port Capital LLC acquired a new stake in American Express during the second quarter worth approximately $33,525,000. Freestone Grove Partners LP acquired a new position in shares of American Express in the 2nd quarter valued at $31,590,000. Caisse de depot et placement du Quebec purchased a new position in shares of American Express in the 2nd quarter valued at $100,344,000. Gallagher Fiduciary Advisors LLC acquired a new stake in American Express during the 2nd quarter worth $270,000. Finally, Pointe Capital Management LLC acquired a new stake in American Express during the 2nd quarter worth $274,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AXP shares. JPMorgan Chase & Co. upgraded shares of American Express from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $328.00 to $400.00 in a research note on Monday, July 13th. Benchmark began coverage on American Express in a research report on Monday, July 13th. They issued a "buy" rating for the company. TD Cowen raised their price target on American Express from $330.00 to $338.00 and gave the stock a "hold" rating in a research note on Tuesday, July 7th. Morgan Stanley cut their price target on American Express from $385.00 to $382.00 and set an "equal weight" rating on the stock in a research report on Monday, July 27th. Finally, Piper Sandler boosted their price objective on American Express from $396.00 to $405.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $373.32.

American Express Stock Up 1.0%

AXP opened at $327.86 on Tuesday. American Express Company has a 52 week low of $290.97 and a 52 week high of $387.49. The business has a 50 day moving average price of $338.89 and a two-hundred day moving average price of $324.77. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The company has a market cap of $221.41 billion, a PE ratio of 19.89, a P/E/G ratio of 1.38 and a beta of 1.05.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.12. The company had revenue of $19.64 billion for the quarter, compared to the consensus estimate of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.The company's revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, research analysts anticipate that American Express Company will post 17.68 EPS for the current year.

About American Express

American Express Company is a global payments and financial services company that provides payment products, services and experiences to consumers, businesses and institutions. Its offerings include credit and charge cards, consumer and commercial payment solutions, business financing, deposit products and expense-management tools.

The company also operates a global payments network connecting cardmembers, merchants and financial institutions. Through its merchant services business, American Express supports payment acceptance and provides data-driven marketing and customer-engagement solutions.

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