Société Générale Stock Loses Ground After One Month of 11.5% Decline
The Défense bank is trading in negative territory this early afternoon, within a CAC 40 also slightly oriented downward. The session context is particularly dense for the financial sector: the Fed is expected tomorrow with a rate hike highly probable, while ten-year U.S. sovereign yields have surpassed 5%, a level that weighs on banking assets in general.
Mediobanca Raises Its Target to €85 on the Back of Solid Half-Year Results
On Tuesday, September 15, Mediobanca raised its price target on Société Générale from €80 to €85, maintaining its analyst opinion at "market perform". At €73.02 in trading, the security is trading with an upside potential of approximately 16% relative to this new target. This revision comes in the wake of first-half 2026 results, published on July 30, which had posted a record net income attributable to the group of €3.5 billion, up 13.9% year-over-year, with a ROTE of 12.0%.
The bank had then raised its return on equity target for 2026 to approximately 11%, announced a dividend interim payment up 23% and an exceptional share buyback of €1.5 billion. The analyst consensus also incorporates earnings per share growth of nearly 14% between the current fiscal year and the following one, for a security trading at approximately 9.2 times 2026 earnings according to collected estimates.
A Security Below Its Short-Term Moving Averages Despite Long-Term Support
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On the price front, Société Générale is down 0.57% at €73.02, within a CAC 40 declining 0.26% in trading. The security remains below its 20-day moving average at €74.90 (gap of -2.51%) and its 50-day moving average at €77.17 (gap of -5.38%), two levels acting as nearby resistance since the decline that began in late August. Only the 200-day moving average at €71.54 is situated below the current price, at approximately 2% distance, and materializes a first technical support level, above the support identified at €71.03.
The RSI at 41, while not in oversold territory, reflects a still moderate momentum. Over one month, the security has lost 11.34%, a correction that has stabilized over the quarter (-0.52%), the bank still holding a gain of 27.52% over twelve months. The historical sensitivity of the value to eurozone banking interest rates, in a context where the 3-month Euribor stands at 2.513% after a rise of 0.48 percentage points over one year, remains a factor to monitor as the Fed and ECB concluded their decisions this week.
« Revenus du Groupe de 21,4 Md EUR sur 9M-26, en hausse de +4,1% vs. 9M-25, en bonne voie pour dépasser la cible 2026 >+2% » ; « ROTE de 12,3% sur 9M-26, en bonne voie pour dépasser la cible 2026 à ~11% » ; « Coût du risque de 27 pb sur 9M-26, dans la fourchette cible de 25 à 30 pb pour 2026 »
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