TD Bank Is Now the Most Shorted Bank Stock. Should Investors Be Worried?
The banking crisis has been relentless since it started, dragging down bank stocks of all shapes and sizes and spilling into Europe, as well. Now, one of Canada's largest banks has found itself in the crosshairs of investors.
Toronto-Dominion Bank (NYSE: TD), often referred to as TD Bank, has a very large presence in the U.S. and is now the most shorted bank stock among its peers. Traders have taken $3.7 billion worth of bets against the bank.
With roughly $1.26 trillion in assets, TD Bank would certainly be considered too big to fail, and many believe the large banks are set to benefit from this recent banking crisis because they're likely to be seen as a safe place to transfer funds into. Let's take a look at why the shorts are betting against TD Bank and if their arguments have merit.
Source Fool.com
Toronto-Dominion Bank Stock
Based on 3 Buy predictions and 2 Sell predictions the sentiment towards Toronto-Dominion Bank is rather balanced.
As a result the target price of 86 € shows a very positive potential of 70.26% compared to the current price of 50.51 € for Toronto-Dominion Bank.
