Jim Cramer Highlights that Wells Fargo is “Owned and Beloved” by the Charitable Trust

Wells Fargo & Company (NYSE:WFC) is one of the 25 stocks Jim Cramer recently shared insights on. During the episode, Cramer mentioned the stock while discussing the impact of the generational wealth transfer on banks. He said:

“It also bodes well for the banks, any banks, including Bank of America, Wells Fargo… Plus, now that the banks have all passed the Fed’s stress test, they’re aggressively raising their dividends. Tonight, after the close, JPMorgan and Bank of America said they plan to put through 8% dividend boost. Wells Fargo, a stock that’s owned and beloved by my Charitable Trust, put through a 12.5%… Many more are on the way.”

A team of bankers in suits, discussing the success of the company’s banking products.

Wells Fargo (NYSE:WFC) provides a wide range of financial services, including banking, lending, investment, and wealth management solutions for individuals, businesses, and institutions. Cramer discussed the company in one of Mad Money’s March episodes, as he commented:

“I like Wells Fargo down here with these interest rates…Been a long-term turnaround play under CEO Charlie Scharf, whom we greatly respect. Even though Scharf’s now more than five years into the job, at this point, he’s still actively reshaping Wells Fargo for the better, shrinking or exiting businesses that weren’t working well… The last big benefit that could still accrue to Wells would be a removal of the asset cap that’s been in place since early 2018…

I think that you would absolutely get this cap removed. And Wells Fargo, there’s billions of dollars in costs they could take to reallocate, move from compliance efforts to activities. There’s, they have to spend a lot of money on compliance. I’m not against that, but I do think the bank would be much more profitable without the cap. Even with the stock’s recent 16% pullback from its highs, Wells Fargo’s still giving us a nearly 85% gain for the Charitable Trust.”

While we acknowledge the potential of WFC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.