Cramer Calls Wells Fargo a 'Bow Wow' But Admits He's Buying (WFC)

A Lightning Round caller asked Jim Cramer about Wells Fargo (NYSE: WFC) on last night's Mad Money. While Cramer called the bank stock "a bow wow", he admitted that he has been buying shares of Wells Fargo for his charitable trust, Action Alerts PLUS. Cramer said he is staying convicted to Wells Fargo as the company has a "huge mortgage portfolio".

Cramer's trust currently holds 1800 shares of Wells Fargo, making up 2.14% of his portfolio. Notably, Cramer purchased Wells Fargo stocks as recently as January 5th.

Shares of Wells Fargo are down more than 5% today, currently trading around $26.15. The stock is moving lower with the broader financial sector, which is down nearly 3%, as measured by the Financial Select Sector SPDR ETF (NYSE: XLF), or the XLF.

Wells Fargo & Company, through its subsidiaries, operates as a financial services company in the United States.

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