Jim Cramer on Wells Fargo: "It's Going to go Higher"

Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer recently discussed. Cramer discussed the stock’s valuation during the episode. He commented:

“I happen to like Wells Fargo, where Mayo toils, because CEO Charlie Scharf has resurrected this bank this time from regulatory hardship… Wells Fargo, Bank of America, and Citigroup sell at ridiculously low, around 10 to 12 times next year’s numbers. That’s not sustainable. It’s going to go higher.”

Wells Fargo & Company (NYSE:WFC) provides financial services, including banking, lending, investment, and mortgage solutions for individuals, businesses, and institutions. During the September 9 episode, Cramer praised the firm’s CEO, as he said:

“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.”

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.

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