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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

Eagle Bancorp Montana (EBMT Quick QuoteEBMT - Free Report) is a stock many investors are watching right now. EBMT is currently holding a Zacks Rank #1 (Strong Buy) and a Value grade of A. The stock is trading with P/E ratio of 8.97 right now. For comparison, its industry sports an average P/E of 10.16. EBMT's Forward P/E has been as high as 13.92 and as low as 8.79, with a median of 10.35, all within the past year.

Another notable valuation metric for EBMT is its P/B ratio of 0.7. 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. This company's current P/B looks solid when compared to its industry's average P/B of 1.94. Within the past 52 weeks, EBMT's P/B has been as high as 0.83 and as low as 0.60, with a median of 0.73.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. EBMT has a P/S ratio of 1.01. This compares to its industry's average P/S of 1.88.

Finally, investors will want to recognize that EBMT has a P/CF ratio of 5.81. 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. EBMT's P/CF compares to its industry's average P/CF of 14.19. Over the past year, EBMT's P/CF has been as high as 7.56 and as low as 5.60, with a median of 6.55.

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