Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is First Busey (BUSE). BUSE is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 9.73, while its industry has an average P/E of 12.22. BUSE's Forward P/E has been as high as 12.76 and as low as 8.83, with a median of 10.63, all within the past year.

Investors should also recognize that BUSE has a P/B ratio of 0.99. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.20. 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 1.01.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's 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 2.08. This compares to its industry's average P/S of 2.09.

Finally, our model also underscores that BUSE has a P/CF ratio of 9.37. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. BUSE's current P/CF looks attractive when compared to its industry's average P/CF of 17.57. BUSE's P/CF has been as high as 10.66 and as low as 7.13, with a median of 8.96, all within the past year.

Investors could also keep in mind Eagle Bancorp Montana (EBMT), an Banks - Midwest stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

Eagle Bancorp Montana also has a P/B ratio of 0.69 compared to its industry's price-to-book ratio of 2.20. Over the past year, its P/B ratio has been as high as 0.79, as low as 0.59, with a median of 0.66.

These are just a handful of the figures considered in First Busey and Eagle Bancorp Montana's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that BUSE and EBMT is an impressive value stock right now.

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