Wells Fargo & Company (WFC)’s CEO Has “Done So Much Good,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Talked About President Trump & Trillionaires. Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer recently discussed.

Cramer has started to frequently comment on Wells Fargo & Company (NYSE:WFC) lately. He has praised the firm’s decision to buy back shares and indicated that it can benefit from the Federal Reserve removing its asset cap penalties that were imposed in 2018. Here are Cramer’s latest thoughts about Wells Fargo & Company (NYSE:WFC) and CEO Charlie Scharf:

“[After Quintanilla pointed out that CEO Charlie Scharf painted a benign picture for consumers] I think that people should recognize that his buyback, which the way he really [inaudible], he stepped it up rather dramatically. And also he has that asset cap taken off. Charlie, remarkable bank, the stock up 15% for the year, we have a big position for the charitable trust. I think it goes much higher, Charlie has got that bank moving and the multiple’s too low.

“Well I think Charlie’s remarkable. He’s done so much good in the banking group. He’s turned around Wells, where a lot of people felt Wells would never come back.”

“Well I mean look, it’s never going to return to where it was, right, because that was when Warren Buffett loved it, so it had such at a halo and he’s completely out. . .but you know it’s at 13, I think it should go to 15, okay. Which would move it very nicely.”

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