Cramer: Selling Wells Fargo now would be ‘stupid’

Cramer: Keep Wells Fargo, don't sell it

Investors should not jump ship from Wells Fargo following the bank's mixed second-quarter results, CNBC's Jim Cramer said Tuesday.

"This is a good quarter, and this is another stock that's going to come down today; it'll go down half the day tomorrow and we'll come in on Thursday and Warren Buffett will say this was a great quarter and then it will hit $62 [per share]," Cramer said on "Squawk on the Street."

Wells Fargo reported second-quarter earnings per share of $1.03 on Tuesday, in line with analysts' expectations. However, the bank's revenue came in at $21.32 billion, below expectations of $21.7 billion.

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"Whoever is doing this snap-judgment trading is as stupid as the people who got short ahead of the deal with Greece," Cramer added.

Shares of Wells Fargo opened Tuesday trading slightly lower.


Disclosure: Cramer's trust owned Wells Fargo stock when this article was published.