Societe Generale: Lagging Behind in the CAC 40 Ahead of the June 1st Dividend

Societe Generale at the Bottom of the CAC 40, Breaking the Weekly Rebound

Societe Generale's stock falls by 2.03% to €69.35, becoming the worst performer in the CAC 40, which itself is down by 0.28%. This drop erases the rebound that began earlier in the week, bringing its weekly performance to -0.12%. Over three months, the bank has seen a decline of 6.11%, while its annual performance remains strong at +43.67%.

The session occurs in a loaded sectoral context. The ECB has warned in its Financial Stability Review about the risks of widening sovereign spreads and the abrupt revaluation of public debts, following tensions around Iran. On the corporate side, the group launched its employee share ownership plan 2026 yesterday, with a subscription price set at €54.75 per share, representing a significant discount on the current price.

Stock Remains Above Its Moving Averages, Deutsche Bank Targets €79

Despite the decline, the stock price remains above its three moving averages: MM20 at €68.51, MM50 at €67.99, and MM200 at €63.61, providing a 9% cushion on the long-term trend. The RSI at 56 remains neutral, showing no extreme signals. The support level identified at €65.72, already tested on May 21 during a previous drop, is the one to watch. Resistance is spotted at €74.66.

From the analysts' perspective, Deutsche Bank raised its target from €78 to €79 on May 26, while maintaining a 'buy' recommendation, suggesting a theoretical potential of about 14% from the current price. Based on the consensus of analysts surveyed, the stock is trading at about 9 times the earnings expected for the current fiscal year and 7.8 times those of the next fiscal year. The next key event for shareholders is the detachment of the balance of the dividend, scheduled for June 1st, followed by payment on June 3rd.