WELLS FARGO & CO. $55 - New York symbol WFC

WELLS FARGO & CO. $55 (New York symbol WFC; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 5.2 billion; Market cap: $286.0 billion; Price-to-sales ratio: 3.4; Dividend yield: 2.7%; TSINetwork Rating: Average; www.wellsfargo.com) will raise its quarterly dividend by 7.1%, to $0.375 a share from $0.35. The new annual rate of $1.50 yields 2.7%.

As well, the bank will likely earmark more funds for share buybacks in 2015 than the $9.4 billion it spent last year. That will help push up this year’s projected earnings to $4.16 a share from $4.10 in 2014. The stock trades at 13.2 times that forecast.

Wells Fargo is a buy.

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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