Investors interested in Banks - Foreign stocks are likely familiar with Canadian Imperial Bank (CM) and Credicorp (BAP). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.Right now, Canadian Imperial Bank is sporting a Zacks Rank of #2 (Buy), while Credicorp has a Zacks Rank of #4 (Sell). Investors should feel comfortable knowing that CM likely has seen a stronger improvement to its earnings outlook than BAP has recently. But this is just one piece of the puzzle for value investors.Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.CM currently has a forward P/E ratio of 10.68, while BAP has a forward P/E of 14.86. We also note that CM has a PEG ratio of 1.59. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. BAP currently has a PEG ratio of 6.02.Another notable valuation metric for CM is its P/B ratio of 1.39. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, BAP has a P/B of 1.89.Based on these metrics and many more, CM holds a Value grade of B, while BAP has a Value grade of C.CM stands above BAP thanks to its solid earnings outlook, and based on these valuation figures, we also feel that CM is the superior value option right now.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 Canadian Imperial Bank of Commerce (CM): Free Stock Analysis Report Credicorp Ltd. (BAP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research