IMHO + 2 cents,

There is 2 different valuations here ...
Dreamer is a dividend investor , so when the dividend numbers seems good, he is willing to go in.
For long term holding purpose , as long as the dividend yield is higher than others instruments , why not ?
Paper loss not meant to be sold. The P/BV valuation 3.X is an additional tool to make a good guts to evaluate an entry point. As long as it is higher than 2% FD , we have beat the FD benchmark. 

E.g P at RM7 , DY is 0.55 = 7.8% ... seems ok for DY investor .
      P at RM6 , DY is 0.55 = 9.1%  ... seems great ... 

The second op is the entry price is supported by fundamental valuation.
Numbers is logic at Rm5.68 base on 2x p/bv . Its a fair value given on bear market .
Whether or not to hit RM5.68 , we duno . We can choose to enter at Rm6.50 ...   
if go against us , Average at RM6 ... and so on ... this is to max our capital gain base on fundamental valuation.
(personally i prefer this method)

Given the scenario for local banks to perform and yield like pbb ...
i doubt so, most DY investor are willing to park at Pbb as a safer bet.

2 cents ..