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TD Bank (TSX:TD) is down about 25% from its all-time high. Contrarian investors seeking good dividends and a shot at decent capital gains are wondering if TD stock is now undervalued and good to buy for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) portfolio focused on passive income and total returns.
TD stock
TD trades near $80.50 per share at the time of writing, compared to more than $108 at the height of the post-pandemic rally. The stock picked up a bit of a tailwind over the past couple of weeks, but it still isn’t far off the 12-month low of around $76.
TD is best known to Canadian investors for its domestic retail business, But the bank actually operates more branches in the United States. The company built the American operations over the past 20 years largely through strategic acquisitions focused on the east coast of the country running from…
