It's been a tough year for finance stocks. The banking crisis in March put an unwanted spotlight on the sector, and financial stocks across the board have suffered. The looming recession threat also makes investors hesitant about consumer finance stocks. One blue-chip, Warren Buffett-backed stock that has fallen 20% since its recent high in July is American Express (NYSE: AXP).

Buffett's Berkshire Hathaway owns nearly 152 million shares of American Express, making it the third-largest holding in its investment portfolio. This long-term Buffett holding, which has been in Berkshire's portfolio since 1993, has taken a hit this year and recently fell over 4% in the days following its quarterly earnings announcement. 

Is this a buyable dip for investors? Let's dive into its results to find out.

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Source Fool.com