Jim Cramer Calls Wells Fargo CEO “Terrific”

Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer highlighted recently. Cramer talked quite positively about the firm’s CEO, as he remarked:

“Now we gotta go down to the companies that have been buying back stock at a 4% clip annually to find the two that I want to pound the table on right here and right now: Wells Fargo and Apple. Wells spoke today at a conference. I liked everything I heard. Here’s what we told club members: ‘Wells has bought back $5.5 billion of its stock so far this quarter. That’s the most the bank has bought back in a single quarter all year.’

A huge, and by the way, that is a huge sign of confidence from CFO, Michael Santomassimo, who said that he’s seeing green shoots now that the Feds removed the asset cap penalty on Wells. I’d be a buyer if we didn’t already own so much of it for my Charitable Trust. And I know Charlie Scharf is on tomorrow morning. I want to listen to him. He’s the CEO and he’s terrific.”

Photo by Erol Ahmed on Unsplash

Wells Fargo & Company (NYSE:WFC) provides financial services, including banking, lending, investment, and wealth management solutions. Its offerings include consumer, commercial, corporate, and institutional clients across multiple financial products and advisory services.

While we acknowledge the risk and potential of WFC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WFC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.