2024-06-11 03:24:51 ET
Summary
- The Toronto-Dominion Bank reported growing revenue and declining earnings per share and overall solid second quarter results.
- The stock seems tempting due to the low valuation multiples and rather high dividend yield.
- Nevertheless, I would still be cautious about an investment in Toronto-Dominion due to the high risk of a recession.
- And the increasing provision for credit losses and rising delinquency rates are not great signs.
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Toronto-Dominion Bank: Valuation Getting More Tempting, Fundamentals Getting Worse