California State Teachers Retirement System 13F: Cuts BAC Stake by $25M

California State Teachers Retirement System Cuts Bank of America Stake

The California State Teachers Retirement System trimmed its position in Bank of America (NYSE: BAC) by 455,585 shares, bringing its total holdings to 10,437,623 shares valued at about $575.7 million as of May 18, 2026. This action reflects a 4.2% decrease in its stake in the financial services giant.

What Changed in the Position

The California State Teachers Retirement System's stake decreased from 10,893,208 shares to 10,437,623 shares. The reduction in shares indicates a strategic adjustment rather than a complete exit from the investment.

Institutional Activity Around Bank of America

No other funds reported changes in their positions in Bank of America during this period. However, previous reports noted that Boston Partners increased its stake by 12.3% on May 11, 2026, and Schroder Investment Management raised its position by 15% on May 14, 2026. These moves suggest some institutional investors remain confident in Bank of America's prospects.

How BAC Stock Has Traded

Bank of America shares closed at $55.16 on the day this article was published. The stock has fluctuated between $46.12 and $65.23 over the past year, indicating a robust trading range. The recent trimming by the California State Teachers Retirement System comes as the stock is trading below its 50-day moving average of $61.91.

Analysts Set New Price Targets

On October 15, 2026, several firms maintained their ratings on Bank of America. Citigroup kept a "Buy" rating with a price target of $60, while Morgan Stanley maintained an "Overweight" rating with a target of $61. Truist Securities also reiterated its "Buy" rating with a $58 target. The consensus among analysts remains positive, with a recommendation key of "Buy" and a mean price target of $68.86.

What BAC Does

Bank of America Corporation, based in Charlotte, North Carolina, offers a wide range of financial services, including consumer banking, investment management, and commercial banking. Its diverse operations help it cater to individual consumers and large corporations alike, making it a significant player in the financial services sector.

What to Watch at BAC

Investors will be looking forward to Bank of America's next earnings report scheduled for October 14, 2026. The recent 13F filing reflects holdings as of May 18 and may not represent current positions. Further filings and market movements will provide more insight into how institutional investors are positioning themselves in this financial giant.