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Do you consider yourself a value investor, always looking for potentially undervalued names? For ideas on how to start your own value search, we ran a screen.

We began by screening the financial sector for stocks outperforming the market, with quarterly performance above 20%.

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 analyst ratings 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 should be trading higher? Use this list as a starting point for your own analysis.

List sorted by potential upside implied by the Graham Number.

1. MidWest One Financial Group, Inc. (NASDAQ:MOFG): Operates as the holding company for MidWestOne Bank that provides various banking product and services. Market cap at $175.92M, most recent closing price at $20.77. Performance over the last quarter at 23.85%. Diluted TTM earnings per share at 1.68, and a MRQ book value per share value at 18.82, implies a Graham Number fair value = sqrt(22.5*1.68*18.82) = $26.67. Based on the stock's price at $20.21, this implies a potential upside of 31.97% from current levels.

2. Wilshire Bancorp Inc. (NASDAQ:WIBC): Operates as the holding company for Wilshire State Bank that offers a range of financial products and services. Market cap at $379.92M, most recent closing price at $5.34.Performance over the last quarter at 22.81%. Diluted TTM earnings per share at 0.54, and a MRQ book value per share value at 3.76, implies a Graham Number fair value = sqrt(22.5*0.54*3.76) = $6.76. Based on the stock's price at $5.22, this implies a potential upside of 29.48% from current levels.

3. Peapack-Gladstone Financial Corp. (NASDAQ:PGC): Operates as the holding company for Peapack-Gladstone Bank that provides financial, trust, and investment services to individuals and small businesses in New Jersey. Market cap at $134.91M, most recent closing price at $15.29. Performance over the last quarter at 25.60%. Diluted TTM earnings per share at 1.37, and a MRQ book value per share value at 12.78, implies a Graham Number fair value = sqrt(22.5*1.37*12.78) = $19.85. Based on the stock's price at $15.5, this implies a potential upside of 28.05% from current levels.

4. Asset Acceptance Capital Corp. (AACC): Engages in purchasing and collecting defaulted or charged-off accounts receivable portfolios from consumer credit originators in the United States. Market cap at $181.56M, most recent closing price at $5.67. Performance over the last quarter at 29.89%. Diluted TTM earnings per share at 0.53, and a MRQ book value per share value at 4.67, implies a Graham Number fair value = sqrt(22.5*0.53*4.67) = $7.46. Based on the stock's price at $5.98, this implies a potential upside of 24.79% from current levels.

5. Access National Corp. (NASDAQ:ANCX): Operates as the bank holding company for Access National Bank that provides commercial credit, deposit, and mortgage services to middle market businesses and associated professionals primarily in the greater Washington, D. Market cap at $130.23M, most recent closing price at $12.73. Performance over the last quarter at 23.95%. Diluted TTM earnings per share at 1.21, and a MRQ book value per share value at 8.37, implies a Graham Number fair value = sqrt(22.5*1.21*8.37) = $15.10. Based on the stock's price at $12.39, this implies a potential upside of 21.84% from current levels.

6. Federal Agricultural Mortgage Corp. (NYSE:AGM): Provides agricultural real estate and rural housing mortgage loans in the secondary market in the United States. Market cap at $268.98M, most recent closing price at $25.76. Performance over the last quarter at 30.46%. Diluted TTM earnings per share at 1.63, and a MRQ book value per share value at 26.75, implies a Graham Number fair value = sqrt(22.5*1.63*26.75) = $31.32. Based on the stock's price at $25.98, this implies a potential upside of 20.56% from current levels.

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

Source: 6 Outperforming Financial Stocks Undervalued By The Graham Number