5 Dividend Stocks to Buy According to Fred Cummings’ Elizabeth Park Capital Management

3. Umpqua Holdings Corporation (NASDAQ:UMPQ)

Elizabeth Park Capital Management Stake Value: $5,565,000
Percentage of Elizabeth Park Capital Management’s 13F Portfolio: 1.95%
Number of Hedge Fund Holders: 23
Dividend Yield: 4.17%

Umpqua Holdings Corporation (NASDAQ:UMPQ) is the parent company of Umpqua Bank, which is a commercial and retail bank with retail brokerage services. Out of the hedge funds being tracked by Insider Monkey, Pzena Investment Management is a leading shareholder in Umpqua Holdings Corporation (NASDAQ:UMPQ), with 2.69 million shares worth more than $54.55 million.

In November, Umpqua Holdings Corporation (NASDAQ:UMPQ) announced a quarterly dividend of $0.21 per share, in line with the previous. Umpqua Holdings Corporation posted its Q3 results in October. EPS in the period totaled $0.49, beating estimates by $0.05.

Following the announcement in October that Umpqua Holdings Corporation (NASDAQ:UMPQ) and Columbia Banking System agreed to merge in an all-stock transaction, Stephens analyst Andrew Terrell downgraded Umpqua Holdings to “Equal Weight” from “Overweight” with a price objective of $19, down from $23. As of the third quarter of 2021, 23 hedge funds in the database of Insider Monkey were bullish on Umpqua Holdings Corporation (NASDAQ:UMPQ), with stakes worth over $232.61 million.