Increased risk weighs on BANCA CARIGE, penalising its rating down to Slightly Negative
The independent financial analyst theScreener just lowered the general evaluation of BANCA CARIGE (IT), active in the Money Center Banks industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date October 24, 2017, the closing price was EUR 0.23 and its target price was estimated at EUR 0.17.Banca Carige is engaged as a banking, financial, insurance and social welfare group. Co.'s group includes Banca Carige Italia, which collects all Co.'s agencies outside Liguria and supporting the project of network development; Cassa di Risparmio di Savona, which is engaged as a savings bank; Cassa di Risparmio di Carrara, the financial backer; Banca del Monte di Lucca; Banca Cesare Ponti, which specialized in private banking and asset management; the insurance companies Carige Assicurazioni (accident insurance) and Carige Vita Nuova (life insurance); and Creditis Servizi Finanziari S.p.A., which specializes in issuing personal loans, salary-deducted loans and revolving credit lines.
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