1 Magnificent High-Yield Bank Stock Down 30% to Buy and Hold Forever

Group 1: Citigroup Overview - Citigroup has experienced a significant rise of over 22% in the past six months, outperforming the S&P 500, which has shown little movement during the same period [1] - The current dividend yield for Citigroup is 3%, which is considered acceptable but is notably lower than pre-Great Recession levels due to a drastic cut made previously [2] - Valuation metrics for Citigroup, including price-to-sales, price-to-earnings, and price-to-book ratios, are all above their five-year averages, indicating potential overvaluation [3] Group 2: Toronto-Dominion Bank (TD Bank) Overview - TD Bank offers a higher dividend yield of 4.8% and is viewed as a more attractive investment compared to Citigroup, especially for dividend-seeking investors [4] - The bank has faced regulatory issues in the U.S. related to money laundering, resulting in fines and an asset cap that will hinder growth in its U.S. operations for an extended period [5] - Despite the challenges in the U.S. market, TD Bank's Canadian operations remain strong, and the bank recently increased its dividend by 3%, signaling confidence in its financial stability [6] Group 3: Investment Perspective - TD Bank's stock is currently down approximately 30% from its 2022 highs, presenting a potential buying opportunity for investors looking for value [8] - The bank's situation is characterized as a low-risk turnaround, with investors receiving a substantial dividend while the company addresses its U.S. business challenges [8] - In a high market uncertainty environment, dividend investors may find TD Bank to be a more favorable option compared to the more expensive Citigroup [9]