Société Générale Société anonyme (OTCMKTS:SCGLY) Short Interest Update

Société Générale Société anonyme (OTCMKTS:SCGLY – Get Rating) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 589,600 shares, a growth of 112.9% from the April 30th total of 277,000 shares. Based on an average daily volume of 775,600 shares, the days-to-cover ratio is currently 0.8 days.

Shares of SCGLY traded up $0.02 during midday trading on Friday, hitting $5.40. The company had a trading volume of 74,842 shares, compared to its average volume of 257,683. The company’s 50-day simple moving average is $5.08 and its 200-day simple moving average is $6.17. The firm has a market capitalization of $22.60 billion, a P/E ratio of 3.78 and a beta of 1.51. Société Générale Société anonyme has a 1 year low of $4.24 and a 1 year high of $8.51.

The business also recently disclosed a dividend, which will be paid on Monday, June 13th. Stockholders of record on Tuesday, May 24th will be paid a $0.2694 dividend. This represents a dividend yield of 5.39%. The ex-dividend date is Monday, May 23rd. Société Générale Société anonyme’s payout ratio is presently 18.88%.

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Société Générale Société anonyme from €29.00 ($30.85) to €33.00 ($35.11) and gave the stock an “overweight” rating in a research report on Thursday, May 19th. Jefferies Financial Group downgraded Société Générale Société anonyme from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $25.00 in a research report on Friday, April 8th. Morgan Stanley raised their price objective on Société Générale Société anonyme from €32.00 ($34.04) to €33.00 ($35.11) and gave the stock an “overweight” rating in a research report on Friday, May 13th. Barclays lowered their target price on Société Générale Société anonyme from €41.20 ($43.83) to €39.90 ($42.45) and set an “overweight” rating for the company in a report on Thursday, April 14th. Finally, Keefe, Bruyette & Woods upgraded Société Générale Société anonyme from a “market perform” rating to an “outperform” rating and set a €32.50 ($34.57) target price for the company in a report on Thursday, May 19th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $30.93.

About Société Générale Société anonyme (Get Rating)

Société Générale Société anonyme provides financial services to individual, business, and institutional investors in Europe and internationally. It offers retail banking services under the Societe Generale, Credit du Nord, and Boursorama brand names; and insurance, investor, and other financial services.

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