Investors interested in Banks - Foreign stocks are likely familiar with Toronto-Dominion Bank (TD) and Banco De Chile (BCH). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Toronto-Dominion Bank has a Zacks Rank of #2 (Buy), while Banco De Chile has a Zacks Rank of #3 (Hold) right now. This means that TD's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. 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.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.TD currently has a forward P/E ratio of 12.18, while BCH has a forward P/E of 16.54. We also note that TD has a PEG ratio of 1.06. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BCH currently has a PEG ratio of 3.17.Another notable valuation metric for TD is its P/B ratio of 1.71. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, BCH has a P/B of 2.65.Based on these metrics and many more, TD holds a Value grade of B, while BCH has a Value grade of C.TD is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that TD is likely 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 Toronto Dominion Bank The (TD): Free Stock Analysis Report Banco De Chile (BCH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research