Do you prefer stocks that offer both value and growth? With that idea in mind, we ran a screen.

We began by screening for stocks paying dividend yields above 2% and sustainable payout ratios below 50% for those that have strong upward momentum, trading within 5% of their 52-week high.

We then screened for those that also appear undervalued relative to the Graham Number. The Graham Number is a measure of maximum fair value created by the "godfather of value investing" Benjamin Graham.

It is based off of a stock's EPS and book value per share (BVPS).

Graham Number = SQRT(22.5 x TTM EPS x MRQ BVPS)

The equation assumes that P/E should not be higher than 15 and P/BV should not be higher than 1.5. Stocks trading well below their Graham Number may be undervalued.

*Interactive Chart: Press Play to compare changes in market cap over the last two years for six of the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.*

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks offer both value and growth? Use this list as a starting point for your own analysis.

List sorted by potential upside implied by the Graham Number.

** 1. CenterPoint Energy, Inc. (NYSE:CNP):** Operates as a public utility holding company in the United States. Market cap at $8.5B, most recent closing price at $19.59. Dividend yield at 4.00%, payout ratio at 44.07%. The stock is currently trading 4.24% below its 52-week high. Diluted TTM earnings per share at 3.16, and a MRQ book value per share value at 10.03, implies a Graham Number fair value = sqrt(22.5*3.16*10.03) = $26.70. Based on the stock's price at $20.05, this implies a potential upside of 33.19% from current levels.

** 2. Northrim Bancorp Inc. (NASDAQ:NRIM):** Provides a range of banking products and services to businesses, professionals, and individuals in Alaska. Market cap at $142.02M, most recent closing price at $21.75. Dividend yield at 2.37%, payout ratio at 28.57%. The stock is currently trading 1.48% below its 52-week high. Diluted TTM earnings per share at 1.76, and a MRQ book value per share value at 19.8, implies a Graham Number fair value = sqrt(22.5*1.76*19.8) = $28.0. Based on the stock's price at $21.89, this implies a potential upside of 27.92% from current levels.

** 3. American National Bankshares Inc. (NASDAQ:AMNB):** Operates as the bank holding company for American National Bank and Trust Company that provides various commercial, mortgage, and consumer banking products and services to individuals and businesses in Virginia and North Carolina. Market cap at $178.29M, most recent closing price at $22.80. Dividend yield at 3.96%, payout ratio at 49.10%. The stock is currently trading 3.25% below its 52-week high. Diluted TTM earnings per share at 1.87, and a MRQ book value per share value at 19.8, implies a Graham Number fair value = sqrt(22.5*1.87*19.8) = $28.86. Based on the stock's price at $22.8, this implies a potential upside of 26.59% from current levels.

** 4. Umpqua Holdings Corporation (NASDAQ:UMPQ):** Operates as the bank holding company for Umpqua Bank that provides commercial and retail banking services to corporate, institutional, and individual customers primarily in the areas of Oregon, northern California, and Washington. Market cap at $1.46B, most recent closing price at $12.89. Dividend yield at 2.11%, payout ratio at 34.19%. The stock is currently trading 5.27% below its 52-week high. Diluted TTM earnings per share at 0.76, and a MRQ book value per share value at 15.08, implies a Graham Number fair value = sqrt(22.5*0.76*15.08) = $16.06. Based on the stock's price at $12.82, this implies a potential upside of 25.26% from current levels.

** 5. OceanFirst Financial Corp. (NASDAQ:OCFC):** Operates as the holding company for OceanFirst Bank that provides community banking services to retail, government, and business customers primarily in Ocean, Monmouth, and Middlesex counties in New Jersey. Market cap at $270.11M, most recent closing price at $14.47. Dividend yield at 3.28%, payout ratio at 42.27%. The stock is currently trading 0.94% below its 52-week high. Diluted TTM earnings per share at 1.17, and a MRQ book value per share value at 12.21, implies a Graham Number fair value = sqrt(22.5*1.17*12.21) = $17.93. Based on the stock's price at $14.49, this implies a potential upside of 23.73% from current levels.

* 6. Wells Fargo & Company (NYSE:WFC):* Provides retail, commercial, and corporate banking services primarily in the United States. Market cap at $175.74B, most recent closing price at $32.69. Dividend yield at 2.65%, payout ratio at 19.80%. The stock is currently trading 3.96% below its 52-week high. Diluted TTM earnings per share at 2.9, and a MRQ book value per share value at 25.48, implies a Graham Number fair value = sqrt(22.5*2.9*25.48) = $40.77. Based on the stock's price at $33.03, this implies a potential upside of 23.45% from current levels.

* 7. SeaCube Container Leasing Ltd. (NYSE:BOX-OLD):* Operates as a container leasing company worldwide. Market cap at $364.41M, most recent closing price at $17.76. Dividend yield at 5.61%, payout ratio at 47.53%. The stock is currently trading 3.25% below its 52-week high. Diluted TTM earnings per share at 1.96, and a MRQ book value per share value at 10.87, implies a Graham Number fair value = sqrt(22.5*1.96*10.87) = $21.89. Based on the stock's price at $17.82, this implies a potential upside of 22.86% from current levels.

* 8. First of Long Island Corp. (NASDAQ:FLIC):* Operates as a bank holding company for The First National Bank of Long Island that provides various financial services. Market cap at $243.72M, most recent closing price at $27.46. Dividend yield at 3.37%, payout ratio at 40.59%. The stock is currently trading 2.99% below its 52-week high. Diluted TTM earnings per share at 2.24, and a MRQ book value per share value at 21.92, implies a Graham Number fair value = sqrt(22.5*2.24*21.92) = $33.24. Based on the stock's price at $27.09, this implies a potential upside of 22.69% from current levels.

** 9. Center Bancorp Inc. (NASDAQ:CNBC):** Operates as the holding company for Union Center National Bank that provides various banking services to individual and corporate customers in Union and Morris counties, New Jersey. Market cap at $170.65M, most recent closing price at $10.40. Dividend yield at 2.07%, payout ratio at 14.92%. The stock is currently trading 4.47% below its 52-week high. Diluted TTM earnings per share at 0.87, and a MRQ book value per share value at 8.01, implies a Graham Number fair value = sqrt(22.5*0.87*8.01) = $12.52. Based on the stock's price at $10.23, this implies a potential upside of 22.4% from current levels.

* 10. Washington Banking Co. (NASDAQ:WBCO):* Operates as the bank holding company for Whidbey Island Bank that provides community commercial banking services in northwestern Washington. Market cap at $218.96M, most recent closing price at $13.95. Dividend yield at 4.01%, payout ratio at 19.40%. The stock is currently trading 4.31% below its 52-week high. Diluted TTM earnings per share at 1.09, and a MRQ book value per share value at 11.28, implies a Graham Number fair value = sqrt(22.5*1.09*11.28) = $16.63. Based on the stock's price at $13.71, this implies a potential upside of 21.32% from current levels.

** 11. Independent Bank Corp. (NASDAQ:INDB):** Operates as the bank holding company for Rockland Trust Company that provides commercial and retail banking, and wealth management services in Massachusetts. Market cap at $615.45M, most recent closing price at $28.10. Dividend yield at 2.95%, payout ratio at 36.08%. The stock is currently trading 3.96% below its 52-week high. Diluted TTM earnings per share at 2.16, and a MRQ book value per share value at 22.21, implies a Graham Number fair value = sqrt(22.5*2.16*22.21) = $32.85. Based on the stock's price at $28.01, this implies a potential upside of 17.29% from current levels.

** 12. Community Trust Bancorp Inc. (NASDAQ:CTBI):** Operates as the holding company for Community Trust Bank, Inc. Market cap at $512.49M, most recent closing price at $32.86. Dividend yield at 3.74%, payout ratio at 46.08%. The stock is currently trading 1.11% below its 52-week high. Diluted TTM earnings per share at 2.69, and a MRQ book value per share value at 24.34, implies a Graham Number fair value = sqrt(22.5*2.69*24.34) = $38.38. Based on the stock's price at $32.79, this implies a potential upside of 17.05% from current levels.

** 13. National Penn Bancshares Inc. (NASDAQ:NPBC):** Operates as the bank holding company for National Penn Bank that provides commercial banking products and services to residents and businesses primarily in eastern and central Pennsylvania. Market cap at $1.4B, most recent closing price at $9.04. Dividend yield at 3.01%, payout ratio at 21.00%. The stock is currently trading 2.86% below its 52-week high. Diluted TTM earnings per share at 0.62, and a MRQ book value per share value at 7.89, implies a Graham Number fair value = sqrt(22.5*0.62*7.89) = $10.49. Based on the stock's price at $9., this implies a potential upside of 16.57% from current levels.

** 14. Universal Health Realty Income Trust (NYSE:UHT):** Operates as a real estate investment trust in the United States. Market cap at $505.91M, most recent closing price at $39.69. Dividend yield at 6.14%, payout ratio at 38.87%. The stock is currently trading 3.84% below its 52-week high. Diluted TTM earnings per share at 6.25, and a MRQ book value per share value at 15.06, implies a Graham Number fair value = sqrt(22.5*6.25*15.06) = $46.02. Based on the stock's price at $39.79, this implies a potential upside of 15.66% from current levels.

*BVPS and EPS data sourced from Yahoo! Finance, all other data sourced from Finviz.

**Disclosure: **I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.