2024-07-26 18:03:02 ET
California-based lender Sierra Bancorp (NASDAQ: BSRR) had a fine stretch on the stock exchange over the past five trading days, thanks largely to rather encouraging quarterly fundamentals. According to data compiled by S&P Global Market Intelligence , the regional bank saw a more than 12% improvement in its share price over the course of the trading week.
Sierra's second quarter saw the bank earn $37.8 million in revenue, which was 4% higher on a year-over year basis. That was on the back of a nearly 7% improvement in net loans, and incremental growth in deposits. On the bottom line, the company's net income also crept north. It rose by 3% to hit nearly $10.3 million, or $0.71 per share.
In its earnings release, Sierra quoted CEO Kevin McPhaill as saying that " Our expanding and diversified banking teams continue to strengthen existing customer relationships while also bringing new relationships to the Bank."
For further details see:
Why Sierra Bancorp Stock Zoomed 12% Higher This Week