Could be part of the reason for downward slide. SP cut earnings for 2012 primarily because of operation twist and the declining long term interest rate impact on loan margins. IMO NYB bounces around in 11-12 range until next qtrs earnings. This is opportunity to buy more if you need them.
First of all, NYB is a solid business with over 2 billion dollars of cash. You are right it is right time to buy at these levels. With a .25 per share a quarter you will make a fortune. Good Luck.