Toronto-Dominion Bank (TSX:TD)(NYSE:TD), the largest bank in Canada in terms of total assets, has watched its stock post a disappointing performance in 2015. It has fallen over 3%, but I think it now represents one of the best investment opportunities in the market, so I have added it to my Christmas list.

Let’s take a look at the three primary reasons why it is on my list, so you can determine if it should be on your list as well, or if you should take it one step further and add it to your portfolio.

1. Its strong financial results in fiscal 2015 could support a near-term rally

On December 3, Toronto-Dominion announced very strong earnings for its fiscal year ended on October 31, 2015, and the results surpassed analysts’ expectations. Here’s a summary of 12 of the most notable statistics from fiscal 2015 compared with fiscal 2014:

  1. Adjusted net income increased 7.7% to $8.75 billion
  2. Adjusted earnings per share increased 8% to $4.61, surpassing analysts’ expectations of $4.58
  3. Total revenue increased 4.9% to $31.43 billion, surpassing analysts’ expectations of $29.83 billion
  4. Net interest income increased 6.5% to $18.72 billion
  5. Non-interest income increased 2.6% to $12.7 billion
  6. Total assets increased 15% to $1.1 trillion
  7. Total deposits increased 15.8% to $695.58 billion
  8. Total loans, net of allowance for loan losses, increased 13.7% to $544.34 billion
  9. Total assets under management increased 17.7% to $345.8 billion
  10. Total assets under administration increased 6.6% to $325.9 billion
  11. Total equity increased 19.2% to $67.03 billion
  12. Book value per share increased 18.8% to $33.81

2. It is a value play

At today’s levels, Toronto-Dominion’s stock trades at just 11.7 times fiscal 2015’s adjusted earnings per share of $4.61, only 11.1 times fiscal 2016’s estimated earnings per share of $4.83, and a mere 10.4 times fiscal 2017’s estimated earnings per share of $5.16, all of which are inexpensive compared with its five-year average price-to-earnings multiple of 13.1 and the industry average multiple of 12.8.

With the multiples above and its estimated 6.9% long-term earnings growth rate in mind, I think Toronto-Dominion’s stock could consistently trade at a fair multiple of at least 13, which would place its shares upwards of $62 by the conclusion of fiscal 2016 and upwards of $67 by the conclusion of fiscal 2017, representing upside of more than 15% and 24%, respectively, from current levels.

3. It has a great dividend

Toronto-Dominion pays a quarterly dividend of $0.51 per share, or $2.04 per share annually, which gives its stock a 3.8% yield at today’s levels. Investors must also make two important notes.

First, Toronto-Dominion has raised its annual dividend payment for five consecutive years, and it is currently on pace for 2016 to mark the sixth consecutive year with an increase. Second, the company has a target dividend-payout range of 40-50% of adjusted net earnings, so its consistent growth should allow this streak to continue for the next several years.

Is there a place for Toronto-Dominion Bank on your Christmas list?

Toronto-Dominion Bank represents one of the best long-term investment opportunities in the market today, so all Foolish investors should add it to their Christmas lists and strongly consider initiating positions before the end of the year.

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Fool contributor Joseph Solitro has no position in any stocks mentioned.