I am thinking that the money managers don't like it because they can't make a lot of money on a company that executes a steady gradual business plan. Watch any stock and you will see that the price volatilty is generally where the action is because they make most of their profit via short term arbitrage. The growth for most of the financials other than the ones that were totally crushed at the bottom of the cycle and a few unusual cases has not really been not that big. The only time you really see swings with Peoples is just before and after earnings are announced. But for individuals that do not actively trade to take advantage of short term price swings and those who do not have visions of doubler sugar plum fairies, this one is a reasonable option to CDs or treasuries given its 5% dividend and adequate capitalization.
How can you say that about a great company that just announced a massive increase in the dividend? I'm having a lot of trouble deciding where to spend all that extra money the dividend increase will put in my pocket.