This is a stock that has a huge short sale "following". By this I mean every time the bank has made the least bit of progress in its share price, the stock has been hammered by short sellers. Right now it looks like there is a 10.5 million share short interest in a stock that has a daily turnover of 800 million shares. This is just my opinion, for what that's worth.
There is really no reason. There was an article that caused all banks to go down yesterday the 12th that talked about a new fed rule for overdraft fees. That probably caused a bit of the selling. I picked up a few more shares at 6.56. I personally love this stock at that price. If it goes lower I will buy more. The beauty is the lower it goes the higher the dividend. Patience will pay off in this stock, very strong company with a healthy dividend that will increase in the next year or so once the company gets back on track.