Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) ended Friday session in red amid volatile trading. The shares closed down -0.03 points or -0.30% at $9.86 with 13.49 million shares getting traded. Post opening the session at $9.90, the shares hit an intraday low of $9.83 and an intraday high of $9.96 and the price vacillated in this range throughout the day. The company has a market cap of $7.85 million and the numbers of outstanding shares have been calculated to be 799.15 million shares.
Huntington Bancshares Incorporated (HBAN) will be participating at the 2016 Barclays Global Financial Services Conference on Monday, September 12, 2016. Mr. Howell “Mac” McCullough, Senior Executive Vice President and CFO, is scheduled to present to analysts and investors at 9:45 AM ET. He will discuss business and financial performance and strategies, and the presentation will include forward-looking statements.
Interested investors may access the live audio presentation in the investor relations section of Huntington’s website (www.huntington.com). A replay of the webcast will be archived on the website.
Shares of Host Hotels and Resorts Inc (NYSE:HST) ended Friday session in red amid volatile trading. The shares closed down -0.61 points or -3.63% at $16.20 with 12.48 million shares getting traded. Post opening the session at $16.68, the shares hit an intraday low of $16.69 and an intraday high of $16.69 and the price vacillated in this range throughout the day. The company has a market cap of $11.85 million and the numbers of outstanding shares have been calculated to be 742.48 million shares.
Host Hotels and Resorts Inc (HST) on July 29, 2016 announced results of operations for the second quarter of 2016.
GAAP OPERATING PERFORMANCE
The Company’s net income increased $137 million for the quarter and $222 million year-to-date, primarily as a result of gains on the sale of non-core assets and operating profit growth. The improvement in RevPAR and food and beverage (“F&B”) revenues helped drive GAAP operating profit margin growth of 100 basis points and 90 basis points for the quarter and year-to-date, respectively. Gains on dispositions increased $119 million and $174 million for the quarter and year-to-date, respectively, as a result of the $466 million of dispositions completed thus far in 2016. The impact of this activity was an increase in diluted earnings per share of 68% and 73% for the quarter and year-to-date, respectively.
“Consistent with our disciplined approach to capital allocation and active portfolio management, we completed the sale of five non-core properties for a total of $345 million and repurchased 5.2 million shares at an average price of $15.39,” said W. Edward Walter, President and Chief Executive Officer. “Importantly, we invested a portion of the proceeds to acquire the ground lease under the Key Bridge Marriott, which is located along the Potomac River with dynamic views of the Washington, D.C. cityscape. Notwithstanding variances in top-line performance across markets, we achieved strong margin growth, driven by improvements in productivity and efficiency across the portfolio and by food and beverage operations, resulting in strong EBITDA and FFO growth.”