9 Stocks on Jim Cramer’s Radar

2. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 96

Wells Fargo & Company (NYSE:WFC) was mentioned during the episode on March 13, and here’s what Mad Money’s host had to say:

“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.”

Wells Fargo (NYSE:WFC) is an international financial services company offering a range of banking, investment, mortgage, and financial products.