Wells Fargo & Co (NYSE:WFC) is trading higher Friday after announcing better-than-expected financial results, while other big banks like JPMorgan Chase & Co (NYSE:JPM) are falling after reporting earnings.

What Happened: Wells Fargo reported fourth-quarter earnings of $1.38 per share, which beat the estimate of $1.12 per share. The company reported quarterly revenue of $20.86 billion, which came in well above the estimate of $18.78 billion.

Wells Fargo said loan demand was weak early in the year, but loans grew 5% in the second half of 2021 with growth stemming from both consumer and commercial portfolios.

Jim Cramer weighed in on Wells Fargo's earnings results in a letter to members of CNBC's "Investing Club."

See Also: Joe Terranova Weighs In On Wells Fargo Stock Following Bullish Analyst Calls

Cramer's Take: Commenting on the company's accelerating loan growth, Cramer said "This is a very good sign of things to come."

"Wells Fargo is one of the most interest rate sensitive banks we follow, meaning a steeper yield curve and higher rates will lead to stronger levels of profitability in the future," he said.

The Federal Reserve has been stressing the importance of cooling inflation, with multiple policymakers signaling they expect to start raising rates as soon as March.

"With multiple interest rates hikes laying ahead, cost savings driving expenses lower, and a balance sheet with plenty of capacity for additional capital returns, we continue to view Wells Fargo as the number one big bank stock to own this year," Cramer said.

WFC Price Action: Wells Fargo has traded as low as $29.68 over a 52-week period. It's making new 52-week highs during Friday's session.

The stock was up 3.31% at $57.86 at time of publication.

Photo: Mike Mozart from Flickr.