NEW YORK ( TheStreet) -- Shares of State Bancorp (Nasdaq: STBC) have taken a tremendous swing upward. The stock is trading at $13.19 as of 3:57 p.m. ET, 20.4% above Thursday's closing price of $10.96. Volume is at 529,291, 19.2 times the daily average of 27,600.

State has a market cap of $182.9 million and is part of the financial sector and banking industry. Shares are up 18.5% year to date as of the close of trading on Thursday.

State Bancorp, Inc. operates as the holding company for State Bank of Long Island that offers a range of banking services to commercial real estate owners and developers, small to middle market businesses, professional service firms, municipalities, and consumers in New York. The company has a P/E ratio of 18.9, equal to the average banking industry P/E ratio and above the S&P 500 P/E ratio of 17.

TheStreet Ratings rates State as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, reasonable valuation levels, solid stock price performance, notable return on equity and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full State Ratings Report.

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