Jim Cramer Shares Details About When He Bought Wells Fargo’s (WFC) Stock

We have recently published Jim Cramer Discussed AI Circular Deals, Top Quantum Plays & These 22 Stocks. Wells Fargo & Company (NYSE:WFC) is one of the stocks discussed by Jim Cramer.

Banking giant Wells Fargo & Company (NYSE:WFC)’s stock is up by 13.9% over the past year and down by 16.6% year-to-date. KGI Securities discussed the firm on April 16th as it set an $88 share price target and downgraded the rating to Hold from Outperform. The shift came after the bank reported its first quarter earnings and posted $5.3 billion in net income or $1.60 in earnings per share. Financial firm Jefferies had initiated coverage of Wells Fargo & Company (NYSE:WFC) on March 25th as it set a Buy rating and a $100 share price target. Jefferies discussed the Federal Reserve’s lifting of the bank’s asset cap last year to outline that the bank was now on a path to recover its return on equity. It added that following the removal, Wells Fargo & Company (NYSE:WFC) could grow its balance sheet and improve its operating margin. In his previous comments about the bank, Cramer has repeatedly praised the firm’s CEO. In this appearance, he once again praised the executive and briefly discussed Wells Fargo & Company (NYSE:WFC)’s share price:

“Hey listen we bought Wells Fargo at 33. All right? Wells Fargo at 33 was doing good. That’s when it was good. Charlie Scharf.”

Jim Cramer Shares Details About When He Bought Wells Fargo's (WFC) Stock

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