Truist Financial Cuts American Express (NYSE:AXP) Price Target to $370.00

American Express (NYSE:AXP) had its price objective trimmed by Truist Financial from $375.00 to $370.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the payment services company’s stock.

A number of other analysts have also commented on AXP. BTIG Research dropped their price target on American Express from $324.00 to $315.00 and set a “sell” rating for the company in a research note on Monday, July 27th. Royal Bank Of Canada lowered shares of American Express from a “moderate buy” rating to a “hold” rating in a research note on Monday, July 13th. UBS Group reduced their price target on shares of American Express from $386.00 to $384.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. upgraded shares of American Express from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $328.00 to $400.00 in a research report on Monday, July 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.05.

American Express Stock Up 1.0%

AXP opened at $308.61 on Wednesday. American Express has a 12 month low of $290.97 and a 12 month high of $387.49. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. The business’s 50-day moving average price is $331.43 and its 200-day moving average price is $324.53. The company has a market cap of $208.41 billion, a P/E ratio of 18.73, a P/E/G ratio of 1.30 and a beta of 1.05.

American Express (NYSE:AXP) last issued 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 $14.99 billion during the quarter, compared to analysts’ expectations of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.American Express’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, equities analysts expect that American Express will post 17.67 EPS for the current year.

Institutional Trading of American Express

Several institutional investors have recently bought and sold shares of the company. Evolution Wealth Management Inc. lifted its position in American Express by 6,600.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of American Express during the second quarter valued at $25,000. Lifetime Wealth Management P.C. bought a new stake in American Express in the 4th quarter worth about $33,000. Cedar Mountain Advisors LLC raised its position in American Express by 58.3% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 95 shares of the payment services company’s stock worth $32,000 after buying an additional 35 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in American Express in the 2nd quarter worth about $33,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

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.