Are TD Stock and BNS Stock Smart Buys for Canadian Investors?

TD stock and Scotiabank both delivered earnings this week, so let's look at whether now is the time to buy, or beware. Toronto Dominion Bank (TSX:TD) and Bank of Nova Scotia (TSX:BNS) are two Canadian banking giants often on the radar of investors looking for stability and dividends. Recent earnings paint a mixed picture, reflecting challenges and opportunities for those considering an investment. So let's look at what's going on with both the banks. Into earnings TD stock recently reported fourth-quarter earnings showing a decline in profits, largely due to issues in its U.S. operations. A US$3 billion penalty for…