Among the strongest declines in the CAC 40, Société Générale shares fall 2%
The La Défense bank is accelerating its decline in early afternoon, in a CAC 40 that is falling much less than it. The stock breaks through a technical support level downwards, following a dividend interim payment detachment still imminent, while the French bond market remains under pressure.
A support level of €63.94 broken, furthest from moving averages
At €62.59, Société Générale is down 2.11% while the CAC 40 is falling 0.87%. The stock ranks among the strongest declines in the index and has just broken through its support level of €63.94. It is trading taking into account the coupon paid: the interim dividend of €0.750 was detached on October 5, which in no way explains today's trading session.
The price is now below its 20-day moving average (gap of -10.68%) as well as its 200-day moving average (-12.19%), and the decline reaches 8.97% over one week. The RSI at 31 signals a configuration close to oversold conditions. In a Paris market weighed down by tensions over French debt, the spread between the 10-year OAT (4.83% on October 7) and the Bund reaches 1.34 points, according to market data for the day.
A price target lowered to €72.60 by Kepler Cheuvreux
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Kepler Cheuvreux lowered its price target on October 6 from €85 to €72.60, while maintaining its buy rating. This target remains 16% above the current price. Analysts are therefore divided between a revised downward target and an unchanged rating.
On the fundamentals side, the group had published in the first half of 2026 (on July 30) a record Group net income of €3.5 billion, up 13.9%, with a ROTE of 12.0%. Based on the consensus of analysts surveyed, the stock is trading at approximately 7.9 times current fiscal year earnings. The level of €63.94, now lost, becomes the reference to monitor on the resistance side.
Résultat net part du Groupe record au S1-26 de 3,5 Md EUR, en hausse de +13,9% vs. S1-25, ROTE de 12,0% au S1-26
Risks mentioned
Revenus de la Banque de Grande Clientèle en baisse de -1,3 % au S1-26 vs. S1-25
Activités Taux, Crédit et Change en retrait de -15,0 % sur le semestre
Coût du risque en hausse de +6,6 % à 745 millions d'euros au S1-26
Opportunities identified
Cible de ROTE 2026 rehaussée à environ 11 % grâce à l'effet de ciseaux positif
Acompte sur dividende en hausse de +23 % et rachat d'actions exceptionnel de 1,5 Md€
Notation relevée par Fitch à « A+ » et perspective S&P passée à « positive »
Outlook / guidance
Management commentary: croissance des revenus Groupe vs 2025
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
