Societe Generale SA (SCGLY) Stock Rating Lowered by Zacks Investment Research

Societe Generale SA (NASDAQ:SCGLY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “SOCIETE GENL FR Group is the sixth largest bank in the euro zone. Its business mix is structured around three core businesses: Retail Banking, Asset Management and Private Banking, Corporate and Investment Banking. The Group is implementing a sustainable growth policy based on the selective development of its products and services, a client-focused culture of innovation in its different markets, and sustained organic growth coupled with acquisitions. “

Separately, Credit Suisse Group reaffirmed an “underperform” rating on shares of Societe Generale SA in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.00.

Societe Generale SA (NASDAQ:SCGLY) traded down 2.17% during mid-day trading on Wednesday, reaching $11.25. The company’s stock had a trading volume of 45,810 shares. The company has a 50 day moving average of $11.44 and a 200-day moving average of $11.05. Societe Generale SA has a 52-week low of $7.23 and a 52-week high of $12.05. The stock has a market cap of $44.99 billion and a PE ratio of 13.43.

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About Societe Generale SA

Societe Generale SA is a France- based financial services company. It is engaged in retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Its core businesses are managed through three segments: French Retail Banking, International Retail Banking & Financial Services, and Global Banking and Investor Solutions.

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