If you are an income-focused investor, Bank of America's (NYSE: BAC) 3.3% dividend yield will probably look pretty attractive since it is toward the high end of the stock's yield range over the past decade. But that's looking at this bank in isolation. If you compare Bank of America to another bank like Canadian giant Toronto-Dominion Bank (NYSE: TD), it doesn't seem quite as attractive anymore.

Nothing here is meant to suggest that Bank of America is somehow a bad bank. Quite the contrary, it is probably one of the most respected banks in the world. But that doesn't mean it is a good investment. That said, using yield as a rough gauge of valuation, the stock does look like it is the cheapest it has been in many years. Fast-rising interest rates and a couple of bank failures in early 2023 are part of the reason for this.

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Source Fool.com