Societe Generale Shares Fall 6% Despite Profitability Above Target
Societe Generale shares experienced a significant downturn this Thursday morning, following a close at €70.99. The movement occurred on the same day as the first quarter 2026 financial results were published, in a market trending downwards, with the CAC 40 dropping 1.12% during the session. However, the stock still maintains a year-on-year gain of 51.65%.
Societe Generale shares fell 6.11% to €66.65 following the publication of the first quarter 2026 results. The bank reported a tangible equity return of 11.7%, exceeding its annual target of over 10%, yet with revenues remaining nearly stable over the period. The profitability increase is based on a structural reduction in management expenses rather than revenue dynamics. The day's movement contrasts with recent trends. In the previous session, the stock was trading at €70.99, after gaining 1.51% on April 28 in anticipation of this release. Over three months, the performance has declined by 7.17%. Within the European banking sector, BNP Paribas fell by 4.91% during the session, while ING Groep edged up by 0.27%.
Neutral RSI, Price Reaches Lower Bollinger Bands
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At €66.65, the price has fallen below its 50-day moving average at €68.66 but remains well above the 200-day moving average at €61.82. The RSI at 50 indicates neither overbought nor oversold conditions, despite the magnitude of today's decline. The price is now in the lower part of the Bollinger Bands, with the lower boundary at €60.22. The identified technical support is at €60.98. Resistance, at €74.66, remains distant after today's drop. The one-month volatility stood at 9.69% before the session, reflecting the range of movements observed since the start of spring, between the peak at €72.89 on April 20 and the declines related to tensions in the Middle East. The next financial calendar event is the general assembly, scheduled for May 27, 2026.
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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