Wells Fargo Has Crush on California

Editor's note: This column was submitted by Stockpickr member Susanne Owen, also known as the Trading Nymph.

Come on, we can tell. You have a crush. You're thinking about California, aren't you, Wells Fargo(WFC Quote)?

During the bank's Oct. 16 conference call, something jumped out at me: "California continued to be one of our fastest growing states with a 16% increase in core product sales from the third quarter of 2006 on a comparable basis."

Wells went on to indicate that its M&A strategy was to focus on "niche opportunities" combined with investments "to build and strengthen our distribution." Then finally these sweet words: "Given the challenging environment, we expect to see additional acquisition and portfolio purchase opportunities." ...