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, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

BancorpSouth Bank (CADE) is a stock many investors are watching right now. CADE is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 9. This compares to its industry's average Forward P/E of 10.14. Over the past 52 weeks, CADE's Forward P/E has been as high as 13.25 and as low as 7.31, with a median of 10.77.

We should also highlight that CADE has a P/B ratio of 0.70. 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 1.92. CADE's P/B has been as high as 1.21 and as low as 0.56, with a median of 0.68, over the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by 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. CADE has a P/S ratio of 1.87. This compares to its industry's average P/S of 3.1.

Finally, investors will want to recognize that CADE has a P/CF ratio of 10.54. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. CADE's P/CF compares to its industry's average P/CF of 12.77. Over the past year, CADE's P/CF has been as high as 17.33 and as low as 7.60, with a median of 10.01.

Another great Banks - Southeast stock you could consider is Regions Financial (RF), which is a # 2 (Buy) stock with a Value Score of A.

Shares of Regions Financial are currently trading at a forward earnings multiple of 9.46 and a PEG ratio of 0.32 compared to its industry's P/E and PEG ratios of 10.14 and 0.42, respectively.

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