Jim Cramer -- Will Wells Fargo Surprise With a Buyback?

Jim Cramer is keeping his eye on Wells Fargo's earnings on Friday, following JPMorgan Chase's strong results.
By Bret Kenwell ,

JPMorgan Chase (JPM) - Get Report reported strong earnings results Thursday morning, topping both earnings-per-share and revenue expectations. The company's fixed-income trading profits are what impressed TheStreet's Jim Cramer the most.

It was an "excellent quarter," said Cramer, the co-manager of the Action Alerts PLUS portfolio.

How excellent? "Wow, I didn't know they could make this much money in this environment," he said. "That matters tremendously."

It's got Cramer looking ahead to Friday morning, when Wells Fargo (WFC) - Get Report will report earnings before the opening bell.

Wells Fargo doesn't have the trading arm that JPMorgan has, but it's still a high quality company, Cramer said of the Action Alerts PLUS holding.

However, Wells Fargo didn't announce a stock buyback at the time that many of its peers did, following approval from the Fed. This gives investors the potential for not only a good quarter, but also the possibility of a stock buyback, Cramer said.

Analysts expect Wells Fargo to earning $1.01 per share on $22.17 billion in revenue. Shares are down 10.2% on the year and 14.75% over the past 12 months.

At the time of publication, Cramer's Action Alerts PLUS had a long position in WFC. 

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