Commerce Bank Snaps Up 135,778 Shares of American Express

According to MarketBeat, Commerce Bank recently acquired a new position in American Express Company (NYSE:AXP) shares. In its second-quarter 13F filing with the Securities & Exchange Commission, Commerce Bank revealed that it purchased 135,778 shares of AXP's stock, valued at approximately $45,927,000.

This acquisition marks one of several recent changes in institutional investors' holdings of American Express. Flputnam Investment Management Co., for instance, also bought a new position in the company during the second quarter, with its purchase valued at $12,879,000.

American Express has seen an increase in its stock price over the past year, with a 52-week high of $387.49 and a current market cap of $226.90 billion. The company's payment services 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.