The Best High-Yield Bank Stock to Invest $1,000 in Right Now

Following the Great Recession, when U.S. banks were struggling, Warren Buffett famously stepped in to invest in Bank of America. It was a contrarian play, as the iconic U.S. bank was struggling badly at the time. Buffett is taking profits now that Bank of America has recovered. A similar contrarian opportunity exists today with Toronto-Dominion Bank (NYSE: TD).If you have $1,000 available to invest that isn't needed to pay monthly bills, bolster an emergency fund, or pay off short-term debt, you should consider putting it toward shares in this bank stock. Here's why.Getting the bad news out right up front, Toronto-Dominion Bank, usually just called TD Bank, has run afoul of U.S. banking regulators. The circumstances were bad, too, since it isn't a good look when your bank gets used by money launderers. TD Bank has had to revamp its money laundering controls and will pay a roughly $3 billion fine for its past actions.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool