Despite hitting a 52-week high recently, shares of First Fidelity Bancorp. are still cheap when compared with the stocks of other superregional banking companies.

Shares of the New Jersey banking company are trading at a lower market-to-book multiple than those of many similar-size banks. For example, Society Corp. in Cleveland sells at 2.09 times book, while Fidelity's multiple is 1.52.

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