It is just profit takers. We have had a nice run and some fools are exiting. The dividend was reconfirmed and results were great. No need to worry there will be more that pile in to collect the dividend and some will exit on the ex date, but I am long and enjoying the hefty dividend as the other longs do. Do not worry about daily fluctuations like this and just hold it forever.
You were "spot on!"
My faith is restored in the process that "Great Results" are rewarded. The price action right after earning report was beyond STUPID and I'm glad the idiots that sold into the drop are staring at a $15.50 plus price!
I buy on every pull back. Average cost is $13.01. Today that is about a 20% cap gain plus the 7.7% dividend (based on my cost). Will continue to buy on any weakness. No worries, just buying ops. Some people think this bank is only NY, but it is also in many other markets that are starting to boom, like AZ.