Jim Cramer Says He’s “Very Happy” With Wells Fargo

Wells Fargo & Company (NYSE:WFC) is one of the 22 stocks Jim Cramer recently talked about. Cramer was bullish on the company and stock during the episode as he stated:

“Finally, there’s Wells Fargo, another Charitable Trust holding, and a company that’s been on a regulatory winning streak since a month ago when the Fed lifted the asset cap that’s been holding them back for seven years. Wells Fargo announced a 12.5% dividend hike, which brings that yield up to 2.19%…  Bank of America and Wells Fargo are the next cheapest, but they both trade at a little less than 2 times tangible book value, a huge premium to Citi… And look, when you judge the bank stocks on a price-to-earnings basis, you get a similar story… Bank of America and Wells Fargo, 13 and 14 times earnings, respectively…

Still, with the banks featuring discount multiples compared to the overall market, you know what, I’m not so sure that the good times… necessarily have to end for this group. I think they can continue moving higher. The bottom line: In this environment, I bet the big banks are some of the best investments this year, yet still very inexpensive, at least on earnings versus the rest of the market, have more room to run, maybe much more. As for which ones you should own, well, that’s a personal choice. I’m very happy with Goldman Sachs and Wells Fargo. We own those for the Charitable Trust.”

Jim Cramer Says He's "Very Happy" With Wells Fargo

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

Wells Fargo (NYSE:WFC) is a global financial services company that offers banking services, investment products, mortgage solutions, and other financial services.

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