Société Générale's Stock Rebounds by 1.60% Despite a Challenging Economic Environment
Société Générale's stock advances by 1.59% to €67.57 in mid-afternoon trading, within a CAC 40 that is up by 0.51%. The stock is among the strongest performers in the Parisian index.
The Stock Returns to Its 50-Day Moving Average After a Quarter in Decline
At €67.57, the stock erases some of the decline accumulated over the quarter, at -6.59% over three months. Over one year, the performance remains strong, at +38.07%. Today's rebound brings the price exactly back to its 50-day moving average (€67.55), while the 20-day moving average at €68.61 remains slightly above. The 200-day moving average, at €63.20, remains 6.91% below the current price, indicating that the underlying bullish trend is preserved. The RSI at 45 remains neutral, with no significant buying or selling pressure. In today's session, the bank continues the rebound movement started last week, after the drop observed at the beginning of May. However, the context of high long-term rates (10-year OAT up by 0.44 point over three months) remains a fundamental parameter for the French banking sector, whose intermediation margins are historically sensitive to the slope of the curve.
May 27th Meeting on the Horizon, Following Improved Quarterly Accounts
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The general assembly, scheduled for May 27th, is the next key event on the bank's calendar. It follows a few weeks after the publication of the first quarter 2026 accounts, which showed a tangible return on equity of 11.7%, above the annual target of more than 10% set by the group. The immediate reaction to this publication was, however, a sharp decline in the stock price. In terms of valuation, according to the consensus of analysts surveyed, the stock is trading at approximately 8.9 times the expected earnings for the current fiscal year and 7.6 times those of the following year.
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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