Jim Cramer Returns to JPMorgan and Wells Fargo After New Round of Criticism on Bank Valuation

Jim Cramer is keeping JPMorgan Chase and Wells Fargo in the spotlight again, according to a Yahoo Finance market report published on Aug. 23, 2026. The piece says the CNBC host continued to voice complaints about JPMorgan, and also referenced Wells Fargo’s valuation “multiple,” bringing both large banks back into his recurring commentary theme.

The report frames Cramer’s remarks as part of a broader, repeated pattern during 2026, indicating that JPMorgan’s valuation has stayed on his radar “multiple times,” rather than being a one-off critique. It also ties Wells Fargo into the same discussion by pointing to a “multiple” that Cramer believes is problematic.

Even with those details, the Yahoo Finance account does not provide much in the way of new, bank-specific fundamentals in the text available here. It does not describe particular earnings results, credit-cycle changes, regulatory actions, or line-item developments at either bank, and it does not quantify the multiple in question.

For JPMorgan Chase, the only concrete elements available from the reported context are that the criticism is directed at the stock’s valuation and that Cramer has expressed this view repeatedly. The report identifies the company by name and stock ticker, JPM, but does not lay out specific price targets, time horizons, or a numerical valuation range tied to its critique.

For Wells Fargo, the same limitation applies. The report mentions that Cramer referenced Wells Fargo’s “multiple,” but it does not spell out which metric he was using, such as price-to-earnings, price-to-book, or another valuation ratio. The report also does not provide a new factual update about Wells Fargo’s performance or guidance within the portion of information available.

In the broader finance sector, bank “multiples” are a shorthand investors use to compare valuation to earnings power and balance-sheet economics. When media figures focus on those multiples, the conversation often becomes a proxy debate about whether investors are paying too much for normalized profitability, or whether risk, capital requirements, or growth prospects justify a premium.

Still, it is not clear from the available report what changed since Cramer’s prior comments, or what specific catalysts, financial results, or modeling assumptions he used to reach his conclusion this time. The post also does not indicate whether the criticism came alongside any concrete actions, such as calls to sell, hold, or re-rate expectations, and it does not include any direct responses from JPMorgan or Wells Fargo management.

Going forward, the practical question is whether any forthcoming bank disclosures or market reassessments make Cramer’s valuation critique look more or less compelling. The next watch items for investors would typically be updated earnings commentary, credit-quality trends, and how the banks discuss capital allocation, but the Yahoo Finance report in this packet does not specify which upcoming data points it connects to Cramer’s argument.