NEW YORK ( TheStreet) -- Shares of Bancorp Rhode Island (Nasdaq: BARI) have taken a tremendous swing upward. The stock is trading at $46.79 as of 9:31 a.m. ET, 52.4% above Tuesday's closing price of $30.71. Volume is at 7,365, 0.8 times the daily average of 9,600.

Bancorp Rhode Island has a market cap of $143.7 million and is part of the financial sector and banking industry. Shares are up 5.6% year to date as of the close of trading on Tuesday.

Bancorp Rhode Island, Inc. operates as a holding company for Bank Rhode Island that provides various banking products and services to individuals, and small and mid-sized businesses in Rhode Island. It engages in generating deposits and originating loans. The company has a P/E ratio of 14.6, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 16.3.

TheStreet Ratings rates Bancorp Rhode Island as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Bancorp Rhode Island Ratings Report.

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