diff --git a/Containerfile.external-dns-operator b/Containerfile.external-dns-operator
index e1cecb02..5b868dc4 100644
--- a/Containerfile.external-dns-operator
+++ b/Containerfile.external-dns-operator
@@ -29,7 +29,7 @@ FROM registry.access.redhat.com/ubi8/ubi-minimal:latest@sha256:f0ed53122215c6ccc
 LABEL maintainer="Red Hat, Inc."
 LABEL com.redhat.component="external-dns-operator-container"
 LABEL name="external-dns-operator"
-LABEL version="1.2.3"
+LABEL version="1.2.4"
 LABEL cpe="cpe:/a:redhat:ext_dns_optr:1.2::el8"
 WORKDIR /
 COPY --from=builder /workspace/bin/external-dns-operator /
diff --git a/Containerfile.external-dns-operator-bundle b/Containerfile.external-dns-operator-bundle
index f5d0e309..240f44fa 100644
--- a/Containerfile.external-dns-operator-bundle
+++ b/Containerfile.external-dns-operator-bundle
@@ -44,7 +44,7 @@ ARG FULL_COMMIT
 ARG GIT_URL
 
 LABEL name=external-dns-operator-bundle
-LABEL version="1.2.3"
+LABEL version="1.2.4"
 LABEL cpe="cpe:/a:redhat:ext_dns_optr:1.2::el8"
 LABEL maintainer='NetworkEdge team <aos-network-edge-staff@redhat.com>'
 LABEL io.k8s.display-name='ExternalDNS Operator'
@@ -53,7 +53,7 @@ LABEL io.openshift.tags='networking,dns'
 LABEL io.openshift.build.commit.id=${FULL_COMMIT}
 LABEL io.openshift.build.source-location=${GIT_URL}
 LABEL io.openshift.build.commit.url=${GIT_URL}/commit/${FULL_COMMIT}
-LABEL release="1.2.3"
+LABEL release="1.2.4"
 LABEL description="Operator bundle for the ExternalDNS Operator"
 LABEL distribution-scope=public
 LABEL url="https://github.com/openshift/external-dns-operator"
diff --git a/VERSION b/VERSION
index 0495c4a8..e8ea05db 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.2.3
+1.2.4
diff --git a/bundle-hack/container_digest.sh b/bundle-hack/container_digest.sh
index 12bc271b..dfcdaa7c 100644
--- a/bundle-hack/container_digest.sh
+++ b/bundle-hack/container_digest.sh
@@ -1,6 +1,6 @@
 # Do not remove comment lines, they are there to reduce conflicts
 # Operator
-export OPERATOR_IMAGE_PULLSPEC='registry.redhat.io/edo/external-dns-rhel8-operator@sha256:48281ccd048d6a03048fd7486a0fb1988d5ab35194bd683de9c211d076790466'
+export OPERATOR_IMAGE_PULLSPEC='registry.redhat.io/edo/external-dns-rhel8-operator@sha256:70a618a7bf0e97328a5d2c759964d5bc71d786a327a29ec8f4c2378a3ea1eca0'
 # Controller
 export OPERAND_IMAGE_PULLSPEC='registry.redhat.io/edo/external-dns-rhel8@sha256:5834a35c9bb3d10e45c1e02b31ba3c949f0bdca56d4845115f4c5ee1f2259fa4'
 # kube-rbac-proxy
diff --git a/bundle/manifests/external-dns-operator.clusterserviceversion.yaml b/bundle/manifests/external-dns-operator.clusterserviceversion.yaml
index 98001012..23804678 100644
--- a/bundle/manifests/external-dns-operator.clusterserviceversion.yaml
+++ b/bundle/manifests/external-dns-operator.clusterserviceversion.yaml
@@ -310,7 +310,7 @@ metadata:
     features.operators.openshift.io/token-auth-aws: "false"
     features.operators.openshift.io/token-auth-azure: "false"
     features.operators.openshift.io/token-auth-gcp: "false"
-    olm.skipRange: <1.2.3
+    olm.skipRange: <1.2.4
     operatorframework.io/suggested-namespace: external-dns-operator
     operators.openshift.io/infrastructure-features: '["disconnected","proxy-aware"]'
     operators.openshift.io/valid-subscription: '["OpenShift Kubernetes Engine", "OpenShift
@@ -319,7 +319,7 @@ metadata:
     operators.operatorframework.io/project_layout: go.kubebuilder.io/v3
     repository: https://github.com/openshift/external-dns-operator
     support: Red Hat, Inc.
-  name: external-dns-operator.v1.2.3
+  name: external-dns-operator.v1.2.4
   namespace: external-dns-operator
 spec:
   apiservicedefinitions: {}
@@ -598,7 +598,7 @@ spec:
   minKubeVersion: 1.22.0
   provider:
     name: Red Hat, Inc.
-  version: 1.2.3
+  version: 1.2.4
   webhookdefinitions:
   - admissionReviewVersions:
     - v1
diff --git a/hack/sync-version.sh b/hack/sync-version.sh
index 4be8bb96..ff5fd2ba 100755
--- a/hack/sync-version.sh
+++ b/hack/sync-version.sh
@@ -48,6 +48,7 @@ for containerfile in "${containerfiles[@]}"; do
     else
         echo "[UPDATE] $(basename "$containerfile"): updating from $current_version to $version"
         sed -i "s/version=\"[^\"]*\"/version=\"$version\"/" "$containerfile"
+        sed -i "s/release=\"[^\"]*\"/release=\"$version\"/" "$containerfile"
         any_updated=true
     fi
 done