The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find 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.

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 to watch right now is First Business Financial Services (FBIZ). FBIZ is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 8.44, while its industry has an average P/E of 10.01. Over the past 52 weeks, FBIZ's Forward P/E has been as high as 10.58 and as low as 6.79, with a median of 8.55.

Another valuation metric that we should highlight is FBIZ's P/B ratio of 1.26. 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 1.93. Within the past 52 weeks, FBIZ's P/B has been as high as 1.48 and as low as 0.96, with a median of 1.22.

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. FBIZ has a P/S ratio of 1.49. This compares to its industry's average P/S of 1.85.

Finally, our model also underscores that FBIZ has a P/CF ratio of 6.92. 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. FBIZ's current P/CF looks attractive when compared to its industry's average P/CF of 14.81. Within the past 12 months, FBIZ's P/CF has been as high as 8.66 and as low as 5.92, with a median of 7.19.

Investors could also keep in mind First Financial Ban (FFBC), an Banks - Midwest stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

First Financial Ban sports a P/B ratio of 0.87 as well; this compares to its industry's price-to-book ratio of 1.93. In the past 52 weeks, FFBC's P/B has been as high as 1.18, as low as 0.84, with a median of 1.01.

These are just a handful of the figures considered in First Business Financial Services and First Financial Ban'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 FBIZ and FFBC is an impressive value stock right now.

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First Business Financial Services, Inc. (FBIZ) : Free Stock Analysis Report

First Financial Bancorp. (FFBC) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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