Quarterly Earnings Releases, Pricing of Offerings, and Dividend Announcements - Analyst Notes on State Street, Progressive, Fifth Third, T. Rowe Price and CoStar

LONDON, April 29, 2014 /PRNewswire/ --

Today, Analysts Review released its analysts' notes regarding State Street Corporation (NYSE: STT), The Progressive Corporation (NYSE: PGR), Fifth Third Bancorp (NASDAQ: FITB), T. Rowe Price Group Inc. (NASDAQ: TROW) and CoStar Group Inc. (NASDAQ: CSGP). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/1757-100free.

State Street Corporation Analyst Notes

On April 25, 2014, State Street Corporation (State Street) reported a drop in Q1 2014 bottom-line, as costs escalated. Q1 2014 net income available to common stockholders came in at $356 million or $0.81 per diluted share, compared to a net income of $455 million or $0.98 per diluted share in Q1 2013. On an operating basis, State Street earned $0.99 per share, trailing average analyst estimate by a penny, according to Thomson Reuters. During the quarter, the Company incurred $72 million or $0.11 per share as pre-tax severance costs in relation to its staff reductions to realign its cost base to support its goal of positive operating leverage for the full year. According to State Street, Tier 1 common ratio as of March 31, 2014, calculated under currently applicable regulatory requirements was 16.4%. Shares of State Street fell 2.95% to $63.79 on the same day. The full analyst notes on State Street are available to download free of charge at:

http://www.analystsreview.com/1757-STT-29Apr2014.pdf

The Progressive Corporation Analyst Notes

On April 22, 2014, The Progressive Corporation (Progressive) announced the pricing of its underwritten public offering of $350 million aggregate principal amount of its 4.35% Senior Notes due 2044 at 99.684% of par. The Company informed that Goldman, Sachs & Co. is acting as sole book runner for this debt offering. The full analyst notes on Progressive are available to download free of charge at:

http://www.analystsreview.com/1757-PGR-29Apr2014.pdf

Fifth Third Bancorp Analyst Notes

On April 17, 2014, Fifth Third Bancorp (Fifth Third) released its Q1 2014 financial results. During the quarter, the Company's net interest income (FTE) was up marginally by 0.6% YoY to $898 million, while the non-interest income declined 24.1% YoY to $564 million. The Company's Q1 2014 net income available to common stock holders came in at $309 million or $0.36 per diluted share, compared to net income of $413 million or $0.47 per diluted share in Q1 2013. On average, 28 analysts polled by Thomson Reuters expected earnings of $0.41 per share for Q1 2014. Commenting on the results, Kevin Kabat, CEO Fifth Third Bancorp, said "The mark-to-market fluctuation in the value of our Vantiv warrant and net charges to our legal reserves impacted our reported results this quarter. The charge to our legal reserves further reflects a currently heightened legal and regulatory enforcement environment." The full analyst notes on Fifth Third are available to download free of charge at:

http://www.analystsreview.com/1757-FITB-29Apr2014.pdf

T. Rowe Price Group Inc. Analyst Notes

On April 24, 2014, T. Rowe Price Group Inc. (T Rowe Price) announced that its Board of Directors has declared a quarterly dividend of $0.44 per share payable June 27, 2014 to stockholders of record as of the close of business on June 13, 2014. In addition, during the Company's annual meeting held on April 24, 2014, T. Rowe Price reelected all 12 nominees to the Board of Directors and approved, by a non-binding advisory vote, the 2013 compensation paid to the Company's named executive officers. Further, T. Rowe Price also announced the reappointment of KPMG LLP as the Company's independent registered public accounting firm. The full analyst notes on T. Rowe Price are available to download free of charge at:

http://www.analystsreview.com/1757-TROW-29Apr2014.pdf

CoStar Group Inc. Analyst Notes

On April 23, 2014, CoStar Group Inc. (CoStar) released its Q1 2014 earnings. The Company reported Q1 2014 revenues of $119.1 million, up 14.5% YoY. Q1 2014 net income came in at $9.7 million or $0.34 per diluted share, compared to net loss of $2.4 million or $0.09 diluted loss per share in Q1 2013. Non-GAAP net income was $19.77 million or $0.69 per share for Q1 2014. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. The Company also raised its 2014 revenue and earnings guidance based on Q1 2014 results and the acquisition of Apartments.com. For full year 2014, the Company now expects consolidated revenue in the range of $560 million to $570 million and non- GAAP net income per diluted share in the range of $3.05 to $3.15. The full analyst notes on CoStar are available to download free of charge at:

http://www.analystsreview.com/1757-CSGP-29Apr2014.pdf

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EDITOR'S NOTES:
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