(BFM Stock Exchange) – The American establishment estimates that the Defense Bank will deliver “good” results in the first half and could announce share buybacks or even raise its capital funds for 2025 and 2026.

Société Générale is the big carton of the Paris Stock Exchange this year. Carried by a series of good results since last fall, the Defense Bank has managed to change status in the eyes of investors.

Result: the establishment led by Slawomir Krupa signs an increase of 87.3% since the beginning of the year which is the highest increase in CAC 40. Only Thales rivals somewhat (+77%) with this increase. But the defense group benefits from the impressive revival for market interest in the entire European sector, due to the reset of the old continent, where Société Générale owes the bulk of its stock market to its own efforts.

After this good first part of the year, the Société Générale action climbs another 2.6% on Monday, July 7 around 4:40 p.m., signing the highest increase in CAC 40.

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Records of objectives?

In a note written upstream of the next season of the results of the French banks and published this Monday, Bank of America judges that Société Générale could deliver several important announcements on the occasion of the publication of its second quarter accounts on July 31.

The American establishment estimates that the Defense Bank will reveal “good results”, thanks in particular to the improvement of profitability in its retail banking in France.

Above all, Bank of America believes that Société Générale will activate its shareholder’s return policy from the second half of their semester.

The bank had warned at the beginning of the year that it would redistribute to its carriers its excess capital from the moment when its ratio this 1 (equity reported to the weighted outstanding risk) will exceed 13%. Bank of America estimates that Société Générale will arrive at a 13.5% ratio at the end of June 2025.

The American establishment expects the French bank to announce when it was published its results that it decided to request the approval of the European Central Bank (ECB) to launch a program of share buybacks.

Without specifying the amount, however, because Bank of America believes that Société Générale will only reveal it once the green light from the European institution obtained.

“Furthermore, we believe that Société Générale may well note its objectives of Rote (return to tangible equity, a measure of profitability for shareholders, editor’s note) for 2025 and 2026 (…) probably after the summer, but potentially” during the publication of its results, writes Bank of America.

Société Générale Table for the time being on a Rote of more than 8% in 2025 and from 9% to 10% in 2026. Bank of America estimates that these targets could increase to more than 9% for this year and more than 10% for the following financial year.

Apart from Bank of America, Royal Bank of Canada also judges that the quarterly publication of Société Générale could bring its share of good news. In a note written Friday after the fence of the scholarship, the Canadian bank wrote to expect “the publication of the second quarter supports the thesis of a higher capital distribution at Société Générale and additional potential for improving efficiency”.

The Canadian establishment considers, however, that these good news is already integrated into the course of action and therefore remains in “sectoral performance”, on the title, equivalent to “neutral”, while raising its price target at 49 euros, against 45 euros previously. Société Générale action is currently evolving around 50 euros.