Short Interest in Societe Generale Group (OTCMKTS:SCGLY) Drops By 49.1%

Societe Generale Group (OTCMKTS:SCGLY) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 337,940 shares, a drop of 49.1% from the February 26th total of 663,884 shares. Based on an average daily trading volume, of 1,381,911 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Societe Generale Group Stock Performance

Shares of OTCMKTS:SCGLY opened at $14.26 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.21 and a quick ratio of 1.21. The business’s fifty day moving average price is $16.48 and its two-hundred day moving average price is $14.88. Societe Generale Group has a fifty-two week low of $7.29 and a fifty-two week high of $18.30. The stock has a market capitalization of $53.60 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 0.51 and a beta of 0.75.

Societe Generale Group (OTCMKTS:SCGLY) last announced its earnings results on Friday, February 6th. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. Societe Generale Group had a return on equity of 6.71% and a net margin of 22.01%.The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.77 billion. As a group, analysts predict that Societe Generale Group will post 1.14 EPS for the current fiscal year.

Analysts Set New Price Targets

SCGLY has been the topic of several research reports. Citigroup restated a “buy” rating on shares of Societe Generale Group in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Societe Generale Group in a report on Tuesday, February 17th. Zacks Research upgraded Societe Generale Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods cut Societe Generale Group from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Societe Generale Group in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Societe Generale Group currently has an average rating of “Moderate Buy”.

About Societe Generale Group

Société Générale Group, founded in 1864 and headquartered in Paris, is one of France’s largest banking groups. It offers a broad range of financial services to individuals, businesses, institutions and governments. The firm operates through multiple businesses that collectively provide banking, financing, investment and advisory solutions across retail, corporate and institutional client segments.

The group’s core activities encompass retail banking services such as deposit accounts, consumer and mortgage lending, payment services and wealth management.