Jim Cramer Sees Opportunity in Pessimism and Highlights These 12 Stocks

2. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund holders: 96

Wells Fargo & Company (NYSE:WFC) was briefly discussed during a segment on bank earnings. Cramer credited CEO Charlie Scharf for impressive loan growth in the most recent month, despite limited investor attention. Here’s what he said:

“There is a bank called Wells Fargo. And I thought Charlie Scharf did a very good job of the loan growth in the last month was terrific. Did anyone care about the cadence there? Did they care about the cadence? No. But the last month was great. And that’s what mattered.”

Here’s what Cramer said about Wells Fargo & Company (NYSE:WFC) last week:

“When you listen to Charlie Scharf, CEO of Wells Fargo, he’ll tell you that Main Street’s doing quite well. He’s actually seeing loan growth for the first time. […] I’m positive and constructive, and I think Charlie Scharf did a great job, and that stock should be higher. […] By the way, Michelle Bowman, I think, is going to be very positive for Wells Fargo, a deregulated Federal Reserve.”