Societe Generale Shares Drop 2.5% and Fall Below 50-Day Average
Societe Generale's stock declines by 2.5% to €66.73 in early afternoon trading, in a downward-trending Paris market. The CAC 40 index is down by 0.7% during the session. The bank thus continues the downward movement that began after its quarterly results were published last week.
Following the release of its first quarter accounts a few days ago, the decline in Societe Generale's stock intensifies. The stock had already lost 6% on April 30, the day the results were published, despite a tangible equity return of 11.7% in Q1, above the annual target of 10%. Over three months, the decline now reaches 12.89%. However, the performance remains positive over one year, at +43.63%.
The sectoral context also weighs in. The ECB maintained its key interest rates unchanged on April 30, while simultaneously highlighting the intensification of upward risks on inflation and downward risks on growth, particularly due to the conflict in the Middle East. Brent remains around $108 per barrel, fueling the risk of imported inflation. During the 9M-25 publication, the bank had confirmed its target for an operating ratio below 65% and a cost of risk between 25 and 30 basis points for the year.
Below the 50-Day Moving Average, in the Lower Half of the Bollinger Bands
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The price at €66.73 falls below its 50-day moving average, which stands at €68.66, after several weeks close to this benchmark. The 200-day moving average remains significantly lower, at €61.82, maintaining a medium-term bullish orientation. The stock is trading in the lower part of its Bollinger Bands (lower bound at €60.22, upper bound at €77.01), at 39% of the range. The RSI at 50 reflects the absence of directional tension on the indicator.
The technical support identified at €60.98 is now approximately 8.6% below the current price. Next on the financial calendar: the general assembly on May 27, 2026, followed by the second quarter results on July 30.
En 2025, nous avons franchi une étape déterminante dans la transformation de notre Groupe, avec des revenus et un résultat net records et une distribution exceptionnelle d’actions.
Revenus 2025 à 27 254 millions d'euros, résultat net part du Groupe 6 002 millions d'euros; ROTE 10,2%; coefficient d’exploitation 63,6%; coût du risque 26 pb; distribution 4 679 millions d’euros; CET1 13,5%; dividende par action 1,61 EUR; programme de rachats d'actions de 1 462 millions d'euros; objectif 2026: croissance des revenus >2%, coût du risque 25-30 pb, coefficient d’exploitation <60%.
Outlook / guidance
Expected revenue: Croissance des revenus attendue en 2026 supérieure à 2% par rapport à 2025.
Expected EBITDA: EBITDA attendu en 2026 en progression par rapport à 2025, sans chiffre cible communiqué.
Expected net income: Résultat net attendu en 2026 avec une ROtE supérieure à 10%.
Management commentary: La direction confirme ses objectifs pour 2026 et vise une rentabilité accrue et une meilleure maîtrise des coûts.
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