Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company value investors might notice is First Busey (BUSE). BUSE is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 9.27, while its industry has an average P/E of 12.38. BUSE's Forward P/E has been as high as 12.76 and as low as 8.83, with a median of 10.72, all within the past year.

Another notable valuation metric for BUSE is its P/B ratio of 0.93. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.16. Over the past year, BUSE's P/B has been as high as 1.21 and as low as 0.89, with a median of 1.02.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. BUSE has a P/S ratio of 1.98. This compares to its industry's average P/S of 2.06.

Finally, we should also recognize that BUSE has a P/CF ratio of 8.85. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. BUSE's P/CF compares to its industry's average P/CF of 17.25. Over the past 52 weeks, BUSE's P/CF has been as high as 10.66 and as low as 7.13, with a median of 8.90.

Another great Banks - Midwest stock you could consider is Civista Bancshares (CIVB), which is a # 2 (Buy) stock with a Value Score of A.

Furthermore, Civista Bancshares holds a P/B ratio of 0.82 and its industry's price-to-book ratio is 2.16. CIVB's P/B has been as high as 0.93, as low as 0.59, with a median of 0.69 over the past 12 months.

Value investors will likely look at more than just these metrics, but the above data helps show that First Busey and Civista Bancshares are likely undervalued currently. And when considering the strength of its earnings outlook, BUSE and CIVB sticks out as one of the market's strongest value stocks.

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