CNBC Investing Club: Cramer’s Morning Take on Wells Fargo 8/4/26

**SPEAKER_1** (0:00)
The board recommends approving...

**SPEAKER_2** (0:01)
Regarding that seat on the committee, we're promoting...

**SPEAKER_3** (0:02)
to most quarterly earnings...

**SPEAKER_2** (0:04)
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**Jim Cramer** (1:02)
Jim Cramer here to share a short preview of my take on the market from today's members-only CNBC Investing Club Morning Meeting. Join the club for full access to the morning meeting every day at 1020 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.

**Jeff Marks** (1:23)
I just want to keep on Dupont for a minute. So it was a beaten raise. They raised the full year guide, sales, earnings. But if you look at the second half guide to the second half consensus, maybe it's had light on EPS. Only a couple pennies.

**Jim Cramer** (1:37)
Right. But you know, this is a market where we've got stocks that are doing like an eatin, which are just, wow. Sure. This reminds me of Lindy, actually. I thought Lindy was fine. Okay.

**Jeff Marks** (1:45)
I think they should get some benefit of the doubt after two beaten raises in a row.

**Jim Cramer** (1:48)
Well, speaking of benefit of the doubt.

**Jeff Marks** (1:49)
And they're buying back a lot of stock, too.

**Jim Cramer** (1:51)
Can I speak of benefit of the doubt? I thought that Charlie Scharf, this morning, on Squawk on the Street, told a story that made me feel this is firing all cylinders and the analysts who just worry about the net interest margin are being picky. And I actually said, is that the case? He's too much of a diplomat. But he did basically say, listen, every single one of our businesses is on fire, credit cards on fire, low and mid and high and small size, medium size, big size, investment banking.
Just unbelievably good. They've really cut the head count dramatically. They've cut the share count dramatically. And Charlie has, I hit him on the idea. We talked about the asset cap. How's it done since June 3rd of last year? It's been the worst of the mega caps. And he, justifiably, and I know you could say that was a cheap shot, but he then said, listen Jim, how have I done since we started? And the answer, of course, has been fabulous.

**Jeff Marks** (2:47)
And he sounded confident that at some point, he will raise his longer-term return on tangible common equity targets.

**SPEAKER_1** (2:53)
Absolutely, he will.

**Jeff Marks** (2:54)
He was very clear about that, but he didn't want to put a specific date or timeline around things just yet.

**Jim Cramer** (3:00)
But new people who are just watching, okay, this is the number you need to know.
Okay, this stock sells at 12 times earnings. It's the lowest of any bank. After listening to him, I think that's ludicrous. You should at least get a multiple point if not two.

**SPEAKER_3** (3:16)
All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates and may have been previously disseminated by Cramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. To view the full CNBC Investing Club disclaimer, please visit cnbc.com/investingclubdisclaimer.

**SPEAKER_1** (3:48)
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**SPEAKER_2** (3:50)
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**SPEAKER_3** (3:54)
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