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 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.

One company value investors might notice is Private Bancorp of America (PBAM Quick QuotePBAM - Free Report) . PBAM is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 7.91, while its industry has an average P/E of 13.82. PBAM's Forward P/E has been as high as 9.80 and as low as 6.50, with a median of 7.89, all within the past year.

Another valuation metric that we should highlight is PBAM's P/B ratio of 1.37. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. PBAM's current P/B looks attractive when compared to its industry's average P/B of 2.02. Over the past year, PBAM's P/B has been as high as 1.56 and as low as 1.00, with a median of 1.34.

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 preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. PBAM has a P/S ratio of 1.96. This compares to its industry's average P/S of 2.24.

Finally, investors should note that PBAM has a P/CF ratio of 8.67. 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. PBAM's current P/CF looks attractive when compared to its industry's average P/CF of 20. Over the past year, PBAM's P/CF has been as high as 10.53 and as low as 6.64, with a median of 8.58.

These are only a few of the key metrics included in Private Bancorp of America's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, PBAM looks like an impressive value stock at the moment.