Jim Cramer Recently Shed Light on These 9 Stocks

2.  Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 96

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

“And there’s the banking cycle. Now that’s en fuego, it’s smoking. I mean, it’s crazy. The lack of Democratic regulatory headwind and the slower rate cut cycle, good for them. Wells Fargo, Goldman Sachs, JPMorgan screaming higher. Doesn’t hurt that the whole industry seems very confident that the Trump regulators will be more bank-friendly than the Biden regulators. Well, no kidding, who wouldn’t be?”

Wells Fargo (NYSE:WFC) is a global financial services company that provides a wide range of banking, investment, mortgage, and financial products. Oakmark Funds stated the following regarding the company in its Q4 2024 investor letter:

“Wells Fargo & Company (NYSE:WFC) was the top contributor during the quarter. The U.S.-headquartered diversified bank’s stock price rose after reporting what we see as solid third-quarter earnings where the company’s efficiency ratio continued to improve as expenses were well controlled. The fee income segment also performed well, growing 12%. In addition, Wells Fargo had the opportunity to repurchase $3.5 billion in shares during the period, bringing the full-year repurchase to roughly $16 billion. In November, the stock price continued its upward trend following the U.S. presidential election as investors are optimistic that the financials sector will benefit from looser regulations and lower corporate taxes, thus stimulating a better environment for dealmaking. We continue to believe that Wells Fargo is a competitively advantaged bank that can use its superior business mix and return potential to unlock further value.”