Société Générale share pauses after reaching five-year high
Three days after a 5% surge on record results, Société Générale is taking a slight breather on the stock market. The share is losing ground mid-session on the CAC 40, as two brokerage firms have just raised their price targets following the publication of the half-yearly results on July 30.
A five-year intraday peak followed by a technical pullback mid-session
The Société Générale share is down 1.05% to €82.22 during the session, after reaching €83.89 at the opening, its highest level in five years. The share is thus returning to its resistance level of €83.09, which corresponds precisely to the previous day's closing price. This decline from the intraday peak is part of an overall bullish configuration: Société Générale remains solidly above its three moving averages, with a gap of more than 7% from the 20-day MA and more than 20% above the 200-day MA at €68.39.
The RSI at 68 is approaching the overbought zone without entering it, reflecting buying momentum that remains intact but beginning to show signs of short-term exhaustion. Over one month, the share is up more than 6%, and over 53% for the year. In a virtually flat CAC 40 session (-0.07%), the Société Générale pullback places it at the lower end of the index table.
Price targets raised following record half-yearly results and €1.5 billion share buyback
RBC Capital and Keefe Bruyette & Woods have both revised their price targets upward following the half-yearly results published on July 30, each maintaining a "market perform" rating. RBC Capital raises its target from €74 to €84, slightly above the current price, while Keefe Bruyette & Woods increases it from €78 to €81, which remains slightly below the current price of €82.22. These revisions follow a record first half: net profit attributable to the group of €3.5 billion (+13.9%), cost-to-income ratio reduced through a 5% cost reduction, and 2026 ROTE target raised to approximately 11%.
The bank also announced an exceptional share buyback of €1.5 billion launched from August 3, as well as an interim dividend up 23% to €0.751 per share, payable on October 7, 2026. Regarding the rate environment, the 3-month Euribor stands at 2.425% as of July 1, 2026, up 0.40 percentage points over one year, in a context where Société Générale remains historically sensitive to credit conditions in the euro zone. The interim dividend on October 7 represents the next concrete event for shareholders.
