While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is CNB Financial (CCNE). CCNE is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Another notable valuation metric for CCNE is its P/B ratio of 1.01. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. CCNE's current P/B looks attractive when compared to its industry's average P/B of 1.37. Over the past 12 months, CCNE's P/B has been as high as 1.04 and as low as 0.73, with a median of 0.87.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. CCNE has a P/S ratio of 1.51. This compares to its industry's average P/S of 1.78.

Finally, our model also underscores that CCNE has a P/CF ratio of 9.21. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 14.86. Over the past 52 weeks, CCNE's P/CF has been as high as 9.43 and as low as 6.31, with a median of 7.05.

Value investors will likely look at more than just these metrics, but the above data helps show that CNB Financial is likely undervalued currently. And when considering the strength of its earnings outlook, CCNE sticks out at as one of the market's strongest value stocks.

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