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.

Growth where it counts

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."

They're also helping the company to top analyst expectations. On average, prognosticators tracking Sierra stock were expecting less than $37.2 million in revenue, and only $0.60 per share for net income.

A dividend raise in advance of the results

The writing seemed to be on the wall last week. On Friday, Sierra raised its dividend, with the board of directors declaring that the upcoming quarterly payout would be $0.24 per share. This new amount is $0.01, or 4%, higher than its predecessor. Investors can still take advantage of the dividend raise, as the lifted distribution is to be paid on Aug. 15 to shareholders of record as of July 31.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Why Sierra Bancorp Stock Zoomed 12% Higher This Week was originally published by The Motley Fool