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.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.Merchants Bancorp (MBIN) is a stock many investors are watching right now. MBIN is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 7.64 right now. For comparison, its industry sports an average P/E of 12.45. Over the past 52 weeks, MBIN's Forward P/E has been as high as 8.72 and as low as 5.78, with a median of 7.16.Investors should also recognize that MBIN has a P/B ratio of 1.76. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.79. Within the past 52 weeks, MBIN's P/B has been as high as 2.10 and as low as 1.43, with a median of 1.75.Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. MBIN has a P/S ratio of 2.84. This compares to its industry's average P/S of 2.97.Finally, investors will want to recognize that MBIN has a P/CF ratio of 5.65. 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. This stock's P/CF looks attractive against its industry's average P/CF of 17.96. Within the past 12 months, MBIN's P/CF has been as high as 6.88 and as low as 4.35, with a median of 5.40.These are only a few of the key metrics included in Merchants Bancorp'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, MBIN looks like an impressive value stock at the moment. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Merchants Bancorp (MBIN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research