California State Teachers Retirement System 13F: Cuts BAC Stake by $26M

The California State Teachers Retirement System trimmed its position in Bank of America Corporation (NYSE: BAC) by selling 455,585 shares. The fund now holds 10,437,623 shares valued at about $594.7 million as of May 18, 2026. This move represents a 4.2% decrease from its previous stake of 10,893,208 shares.

What Changed in California State Teachers Retirement System's Bank of America Position

California State Teachers Retirement System reduced its stake in Bank of America by 455,585 shares, which is a 4.2% decrease. This adjustment reflects a strategy shift as they hold 10,437,623 shares after the sale.

Other Institutional Activity in Bank of America

In the same quarter, BlackRock Inc. grew its holdings by 6,417,271 shares, ending with 545,683,702 shares worth about $28.2 billion. Vanguard Capital Management LLC added 12,127,174 shares, bringing its total to 421,828,996 shares valued at approximately $21.8 billion. Meanwhile, Berkshire Hathaway, Inc. cut its position by 30,253,860 shares, holding 483,394,015 shares worth about $24.9 billion, a decrease of 5.9%.

Bank of America Corporation Stock Down 1.3%

Bank of America shares traded at $56.98 on the last published trading day, close to its 50-day moving average of $61.91. The stock has seen a 52-week range between $46.12 and $65.23, reflecting some volatility in the financial services sector.

Recent Earnings

In its most recent financial report, Bank of America posted revenue of $113.9 billion, with a revenue growth of 16.8%. The company's earnings per share (EPS) was $4.33, highlighting a strong net margin of 29.5%. The next earnings report is scheduled for October 14, 2026.

Dividend

Bank of America pays an annual dividend of $1.28 per share, yielding about 2.22%. The payout ratio stands at 25.87%, indicating a balance between returning cash to shareholders and reinvesting in growth.

Insider Buying and Selling at Bank of America Corporation

Several insiders sold shares recently, including Officer Geoffrey S. Greener who sold 126,756 shares at an average price of $53.00 on May 5, 2026, valued at approximately $6.7 million. Officer Bernard Amponsah sold 94,000 shares at $46.94 on March 12, 2026, worth about $4.4 million. Additionally, Officer Thomas M. Scrivener and Officer Sheri B. Bronstein sold 50,000 and 60,000 shares, respectively, on March 5, 2026, at prices of $49.82 and $49.91.

Analysts Set New Price Targets

On October 15, 2026, Citigroup maintained a Buy rating on Bank of America with a revised price target of $60.00, down from $66.00. Morgan Stanley also maintained an Overweight rating with a target of $61.00, lowered from $67.00. Truist Securities, RBC Capital, and Barclays continued with Buy or Overweight ratings, setting targets between $58.00 and $68.00.

About Bank of America

Bank of America Corporation provides a wide range of financial products and services to consumers, businesses, and governments worldwide. Headquartered in Charlotte, NC, it operates in various segments including Consumer Banking and Global Markets, reflecting its significant role in the financial services industry.

Bottom Line

Investors should keep an eye on upcoming earnings on October 14, 2026, and further institutional filings as they may provide insight into changing sentiment. The California State Teachers Retirement System's 13F filing reflects its holdings as of the reporting period and may not capture its current position.