California State Teachers Retirement System Has $586.15 Million Position in Bank of America Corporation $BAC

California State Teachers Retirement System decreased its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,286,935 shares of the financial services provider's stock after selling 150,688 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Bank of America worth $586,149,556 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Bank of America during the 4th quarter valued at $4,774,210,000. Bank of New York Mellon Corp boosted its position in Bank of America by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider's stock valued at $3,169,062,000 after buying an additional 2,929,779 shares during the period. Fisher Asset Management LLC boosted its stake in Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider's stock worth $2,958,110,000 after purchasing an additional 1,105,833 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Bank of America by 5.9% during the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider's stock worth $2,594,488,000 after buying an additional 2,611,776 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Bank of America by 3.4% during the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock worth $2,497,655,000 after purchasing an additional 1,487,809 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BAC. Citigroup increased their price objective on shares of Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Argus set a $70.00 price objective on shares of Bank of America in a research report on Wednesday, July 15th. Evercore set a $63.00 price target on shares of Bank of America and gave the stock an "outperform" rating in a research report on Monday, July 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.08.

Key Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America and the Carolina Panthers launched 3rd & Goal, a community initiative expected to reach 10,000 students across the Carolinas in its first year through literacy, physical-wellness and personal-well-being programs. The announcement supports the bank’s community profile, although it is unlikely to materially affect near-term earnings. Carolina Panthers and Bank of America Launch 3rd & Goal
• Positive Sentiment: Bank of America research remains constructive on several longer-term themes, including artificial-intelligence and semiconductor investment. These views could support corporate and investment-banking activity over time, though they do not offset the immediate revenue warning.
• Neutral Sentiment: A Bank of America report said stock-picking and multi-manager hedge funds are attracting more capital in 2026. Stronger asset flows could benefit the bank’s institutional and wealth-management businesses, but the report does not represent a direct change to BAC’s earnings outlook. Stock-picking, multi-manager hedge funds attract more capital
• Negative Sentiment: CEO Brian Moynihan said third-quarter investment-banking fees are expected to decline at least 10% year over year, to approximately $1.6 billion–$1.8 billion, while sales and trading revenue is expected to be roughly flat. The outlook contrasts sharply with the second quarter, when investment-banking fees rose 50% and trading revenue increased 33%, prompting a selloff in BAC and other major banks. Bank of America CEO sees at least 10% drop in Q3 investment banking fees
• Negative Sentiment: Analysts noted that rising wealth-management fees may cushion the capital-markets weakness, but investors are focused on whether the slowdown signals broader normalization after an unusually strong first half. BAC Warns of Q3 Capital Markets Weakness

Bank of America Stock Performance

Bank of America stock traded up $0.24 during midday trading on Tuesday, reaching $59.71. 27,187,961 shares of the stock traded hands, compared to its average volume of 36,941,004. The firm has a market cap of $417.56 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.00 and a beta of 1.15. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average price of $62.08 and a two-hundred day moving average price of $55.64.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. Bank of America's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts forecast that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America's dividend payout ratio is currently 29.36%.

Bank of America Profile

Bank of America Corporation NYSE: BAC is a diversified financial services company serving individual consumers, businesses, institutional investors and governments. Its operations include consumer banking, credit and debit cards, mortgages, small-business banking, commercial banking, investment banking, securities trading and investment management.

The company provides consumer and wealth-management services through Bank of America and Merrill, including deposit accounts, lending, brokerage, retirement planning, financial advice and private banking.

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