Societe Generale (OTC: SCGLF) is one of France’s major banks which is based on a diversified and integrated banking model. Societe Generale bank was usually viewed as primarily a corporate and investment bank, but it has important retail banking operations in France, Eastern Europe, Russia, and North Africa.
With a very good position in Europe and connected to the rest of the world, Societe Generale employs over 149,000 members of staff in 67 countries. Three complementary core businesses of Societe Generale are:
- FRENCH RETAIL BANKING
- INTERNATIONAL RETAIL BANKING, INSURANCE AND FINANCIAL SERVICES TO CORPORATES
- GLOBAL BANKING & INVESTOR SOLUTIONS
Societe Generale’s shares fell through support on fears of the coronavirus Covid-19 pandemic environment but the recent sell-off created an attractive opportunity to invest in this stock.
At its current share price, Societe Generale could be an excellent long-term investment with a very generous yield and solid growth prospects. This bank is very stable and with the market cap of 13.26 billion USD, this is one of the most undervalued stocks according to analysts. Price/Book value is only 0.17 which makes this stock very attractive for potential investors. It is also important to mention that this bank has paid more than 7 billion USD dividends to its shareholders in the last three years.
When we take a look at the one-year chart, we can see that the price dropped from 35 USD to 13.6 USD and started to raise. On this chart, I marked resistance and support levels. Supports levels are 15 USD and 14 USD, 20 USD and 24 USD represent the resistance levels.
If the price jumps above 20 USD it would be a “BUY” signal and we have the open way to 24 USD. Rising above 30 USD supports the continuation of the bullish trend overview efficiently for the upcoming period. If the price falls, every price in a range from 15 USD – 10 USD could be a very good opportunity to invest in Societe Generale.
Conclusion: Societe Generale A Worthy Investment?
Shares of Societe Generale, overall, appear to be a very good investment option, with Wall Street analysts expecting its price to rise considerably in the next several years. Societe Generale’s shares fell through support on fears of the coronavirus Covid-19 pandemic environment but the recent sell-off created an attractive opportunity to invest in this stock. The majority of the metrics point to this investment being highly attractive.
