TD - Is Toronto-Dominion Bank the Best High-Yield Bank Stock for You?
2024-05-16 05:05:00 ET
Toronto-Dominion Bank (NYSE: TD) stock has a hefty 5.2% yield, which is way above the banking sector norm of around 3%, using SPDR S&P Bank ETF as an industry proxy. If you are a dividend investor looking to buy a bank stock, that should probably interest you. But, before you buy TD Bank, as it is more commonly known, you should understand both the positives and the negatives you are taking on.
Based out of Canada, Toronto-Dominion Bank is one of the largest banks in North America. It is the second-largest by deposits in its home market and the sixth-largest on that metric across all of North America. It is important to understand the two different pieces of the business.
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Is Toronto-Dominion Bank the Best High-Yield Bank Stock for You?