Stocks in the Rumor- Host Hotels and Resorts Inc (HST), U.S. Bancorp (USB)
Shares of Host Hotels and Resorts Inc (NYSE:HST) ended Thursday session in red amid volatile trading. The shares closed down -0.07 points or -0.45% at $15.49. Post opening the session at $15.55, the shares hit an intraday low of $15.374 and an intraday high of $15.83 and the price vacillated in this range throughout the day. The company has a market cap of $11.46 billion and the numbers of outstanding shares have been calculated to be 742.48 million shares.
Host Hotels and Resorts Inc (HST) announced that its board of directors authorized a regular quarterly cash dividend of $0.20 per share on the Company’s common stock representing an annual dividend yield of nearly 5% based on yesterday’s closing stock price. The dividend is payable on October 17, 2016.
Shares of U.S. Bancorp (NYSE:USB) ended Thursday session in red amid volatile trading. The shares closed down -0.52 points or -1.20% at $42.88 with 6.52 million shares getting traded. Post opening the session at $43.01, the shares hit an intraday low of $42.37 and an intraday high of $43.01 and the price vacillated in this range throughout the day. The company has a market cap of $73.58 billion and the numbers of outstanding shares have been calculated to be 1.72 billion shares.
U.S. Bank Wealth Management declared that it has named Eric Freedman as its new chief investment officer (CIO) to replace previous CIO Tim Leach, who recently retired. U.S. Bank Wealth Management manages $133 billion of assets for clients and is ranked among the top 20 wealth management firms in the country.
For the past 10 years, Freedman has been CIO, managing director and global market strategist for CAPTRUST Financial Advisors, where he reported to the CEO and was responsible for helping grow the company into one of the largest RIAs in the country, with $180 billion in assets under management. Prior to that, he was a senior portfolio manager for Franklin Street Partners, and vice president of equity derivatives with Goldman Sachs.
“Eric represents everything we were looking for in our next CIO. His drive, deep knowledge of the markets, and commitment to exploring comprehensive investment options on behalf of clients aligns very well with our culture,” said Mark Jordahl, president of U.S. Bank Wealth Management. “We are excited to welcome Eric to our leadership team. Culturally, he is a great fit for U.S. Bank and represents our core values extremely well. I am confident he is the right person to guide us toward our goals and deliver on client expectations.”