Graham Number Stocks — US Companies Trading Below Intrinsic Value Formula on NYSE & NASDAQ
Current price below √(22.5 × EPS × Book Value) — Graham's composite intrinsic value formula giving the maximum price a defensive investor should ever pay.
About This Screen
The Graham Number is derived from Graham's simultaneous defensive investor criteria: P/E should not exceed 15 and P/B should not exceed 1.5. Their product (P/E × P/B) should not exceed 22.5. The Graham Number — √(22.5 × EPS × Book Value Per Share) — is the exact price at which both conditions are simultaneously satisfied. When a stock trades below this price, it passes both the earnings-based and asset-based value tests at once.
WHAT THIS SCREEN FINDS: US NYSE and NASDAQ stocks where the current price falls strictly below the calculated Graham Number. Both EPS TTM and Book Value Per Share must be positive. Debt-to-equity below 1.1 maintains balance sheet conservatism. Market cap above $200M ensures basic liquidity. Results sort by Price/Graham Number ratio ascending — the deepest discounts appear first. A ratio of 0.5 means the stock trades at half its Graham Number.
KEY METRICS EXPLAINED: The Price/Graham Number ratio below 1.0 means the stock is trading below Graham's maximum fair value on both earnings and asset bases simultaneously. Ratios below 0.7 represent deep discount territory. The Graham Number column shows the calculated maximum fair value price — compare directly to the current price column to understand the margin of safety in dollar terms.
WHY INVESTORS USE IT: The Graham Number provides a single composite intrinsic value estimate that simultaneously incorporates both earnings power (EPS) and balance sheet value (Book Value). It gives a concrete price target — the maximum a defensive investor should pay — making buy/sell decisions more objective. Particularly useful for bank and insurance stock analysis where both earnings and book value are economically meaningful.
BENEFITS: Dual-criterion check (earnings AND assets simultaneously). Provides a concrete intrinsic value price, not just a relative ratio. Balance sheet quality requirement prevents buying cheap junk. Simple, transparent formula with decades of academic and practitioner validation. Works particularly well for banks, utilities, and industrial companies with tangible assets.
RISKS AND LIMITATIONS: Works poorly for cyclical companies at earnings peaks — temporarily high EPS inflates the Graham Number and overstates fair value. Companies with goodwill-heavy book values may appear cheap when tangible assets are far lower. High-growth businesses rationally trade above the Graham Number because their future earnings exceed TTM EPS. Technology and asset-light businesses rarely appear here and should not be expected to.
HOW TO ANALYZE STOCKS FROM THIS SCREEN: Verify book value is largely tangible (subtract goodwill and intangibles from reported book value). Confirm EPS is representative of normal earnings, not a cyclical peak. Compare the Price/Graham Number ratio to the stock's 52-week price range for additional context. Check ROE — positive ROE alongside a below-Graham-Number price is a strong combined signal of both quality and cheapness.
COMMON MISTAKES: Using reported book value without checking for goodwill inflation. Treating the Graham Number as a precise fair value rather than a maximum price ceiling. Ignoring cyclicality in EPS (buying at peak earnings will mislead). Expecting the formula to identify turnaround opportunities — it's designed for stable, profitable businesses with predictable earnings.
Related screens: Benjamin Graham Value (broader multi-criteria Graham framework), Below Book Value (companies below net asset value), Strong Balance Sheet (financial safety confirmation), Financial Sector Value (banks and financials where Graham Number is especially useful).
Frequently Asked Questions
What is the Graham Number formula?
Graham Number = √(22.5 × EPS × Book Value Per Share). It represents the maximum price a defensive investor should pay — derived from Graham's criteria that P/E should not exceed 15 and P/B should not exceed 1.5 (their product being 22.5). When current price is below the Graham Number, the stock satisfies both the earnings value and the asset value tests simultaneously.
What does below-Graham-Number trading mean?
P/E × P/B combined is below 22.5. The stock is cheap on both earnings (P/E below 15) and assets (P/B below 1.5) simultaneously. Graham considered this the most conservative margin of safety available from standard financial ratios. It doesn't guarantee a good investment — earnings quality, asset quality, and business durability still require independent evaluation.
For which types of companies is the Graham Number most reliable?
Banks, insurance companies, utilities, basic materials, and stable industrials — where EPS is reasonably predictable year-to-year and book value reflects genuine tangible assets. Least reliable for: cyclical companies at earnings peaks, companies with heavy goodwill, fast-growing businesses where TTM EPS understates future earnings power, or negative-book-value companies.
How do I interpret the Price/Graham Number ratio?
A ratio below 1.0 means the stock trades below Graham's maximum fair value. A ratio of 0.6 means the stock is at 60% of its Graham Number — a 40% discount. Lower ratios indicate deeper discounts. Ratios below 0.5 are very deep value territory. A ratio above 1.0 means the stock has moved above Graham's maximum safe price.
Why doesn't the Graham Number work for technology stocks?
Technology companies have minimal book values — their most valuable assets (software, patents, customer relationships) barely appear on the balance sheet — and their P/E ratios are justified by future growth that TTM EPS doesn't capture. The Graham Number would calculate a very low 'fair value' for these companies despite their genuine economic worth. It's a framework mismatch, not a valuation insight.
What P/E and P/B does a stock exactly at its Graham Number have?
If P/E × P/B exactly equals 22.5, the stock has P/E = 15 and P/B = 1.5 (or any combination where the product is 22.5). A stock 30% below its Graham Number has P/E × P/B around 11 — comfortably within Graham's defensive investor criteria on both metrics simultaneously.
Is the Graham Number useful for bank stocks?
Very useful. Banks have earnings (net interest income) that are relatively stable and book values (loan portfolios, securities) that are economically meaningful. Bank stocks regularly trade below their Graham Number, particularly after sector-wide stress events, making this a practical filter for value-oriented bank investing and identifying recovery opportunities.
How does the Graham Number differ from the Benjamin Graham Value screen?
The Graham Number screen applies a single composite formula (√22.5 × EPS × BV) as the price threshold. The Benjamin Graham Value screen applies seven simultaneous individual criteria including current ratio, D/E, and dividend yield. The Graham Number is a tighter, formula-driven filter; the Graham Value screen is a broader multi-factor framework requiring more conditions to be met.
Does the Graham Number account for debt?
Not directly in the formula itself — it uses EPS and book value per share, which reflect the equity position after debt obligations. This screen adds a D/E below 1.1 filter separately to exclude highly leveraged companies. A stock can trade below its Graham Number but be financially fragile due to high debt — always check the D/E column in results.
How often is the Graham Number recalculated on StockSifting?
Daily. The Graham Number is recalculated each day using the most recent trailing twelve-month EPS and the latest reported book value per share, combined with the current stock price. As EPS or book value are updated with new quarterly filings, the Graham Number adjusts automatically to reflect the latest data.
Results 167 stocks matched
Refreshed daily · Sorted by Market Cap (High → Low)
| S.No. | Company | Graham Number | Price/Graham No. | D/E | Price | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | 52W High | 52W Low |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Heritage Commerce Corp | $14.19 | 0 | 0.06 | $0 | 17.32 | $828.43 M | 3.87% | — | 6.83% | $13.82 | $9.02 |
| 2. | Haymaker Acquisition Corp 4 | $7.33 | 0 | 0 | $0 | 35.36 | $313.64 M | — | -0.38% | 3.65% | $12.54 | $9.67 |
| 3. | BRC Group Holdings, Inc. | $61.01 | 0.14 | -8.56 | $8.47 | 0.59 | $312.64 M | 19.09% | 5.21% | 275.83% | $11.24 | $2.79 |
| 4. | Imperial Petroleum Inc. | $20.83 | 0.24 | 0 | $4.97 | 3.33 | $221.9 M | 0.01% | 10.87% | 13.38% | $6.57 | $2.9 |
| 5. | Sabre Corporation | $4.62 | 0.36 | -4.18 | $1.66 | 1.47 | $731.33 M | 0% | 8.99% | -425.39% | $3.52 | $0.81 |
| 6. | StealthGas Inc. | $26.55 | 0.36 | 0.01 | $9.62 | 5.79 | $351.22 M | — | 8.69% | 9.08% | $10.55 | $6.06 |
| 7. | General American Investors Company, Inc. | $154.82 | 0.41 | 0.1 | $62.87 | 4.46 | $1.74 B | 0.79% | — | 19.36% | $66.18 | $53.78 |
| 8. | American Integrity Insurance Group, Inc. | $41.16 | 0.41 | 0.32 | $17 | 3.94 | $320.51 M | — | — | 25.25% | $26.36 | $15.78 |
| 9. | Ironwood Pharmaceuticals, Inc. | $7.47 | 0.44 | -2.28 | $3.31 | 5.5 | $562.15 M | — | 76.78% | 29.31% | $5.78 | $0.56 |
| 10. | FS Credit Opportunities Corp. | $10.81 | 0.44 | 0.2 | $4.8 | 6.75 | $1.01 B | 15.61% | — | 10.4% | $7.65 | $4.13 |
| 11. | Greenlight Capital Re, Ltd. | $33.23 | 0.47 | 1.05 | $15.53 | 6.18 | $500.48 M | — | — | 11.68% | $19.39 | $11.57 |
| 12. | BlackRock Enhanced International Dividend Trust | $11.34 | 0.5 | 0 | $5.65 | 6.31 | $523.75 M | 8.97% | — | 14.56% | $6.23 | $5.19 |
| 13. | BlackRock Health Sciences Trust | $76.54 | 0.52 | 0.16 | $39.94 | 6.79 | $526.14 M | 7.79% | — | 14.39% | $42.74 | $35.03 |
| 14. | BlackRock ESG Capital Allocation Term Trust | $28.04 | 0.55 | 0 | $15.36 | 7.29 | $1.56 B | 22.32% | — | 13.1% | $17.14 | $13.36 |
| 15. | Primis Financial Corp. | $26.85 | 0.56 | 0.35 | $15 | 8.06 | $371.83 M | 2.68% | — | 11.47% | $15.18 | $9.34 |
| 16. | Bank OZK | $88.64 | 0.56 | 0.08 | $49.6 | 7.96 | $5.63 B | 3.7% | — | 11.63% | $53.66 | $42.37 |
| 17. | Centerra Gold Inc. | $26.84 | 0.57 | 0.91 | $15.27 | 5.31 | $4.66 B | 0.01% | 12.52% | 32.46% | $28.97 | $9.25 |
| 18. | SandRidge Energy, Inc. | $25.33 | 0.58 | 0.32 | $14.81 | 7.23 | $547.87 M | 3.13% | 9.42% | 15.09% | $18.45 | $9.89 |
| 19. | Northeast Community Bancorp, Inc. | $42.69 | 0.59 | 0.21 | $25 | 7.89 | $345.39 M | 3.26% | — | 12.62% | $25.65 | $19.27 |
| 20. | RBB Bancorp | $40.39 | 0.59 | 0.72 | $24 | 9.94 | $407.14 M | 2.67% | — | 7.85% | $24.73 | $15.95 |
| 21. | PCB Bancorp | $41.79 | 0.6 | 0.14 | $25.2 | 8.89 | $358.72 M | 3.54% | — | 10.43% | $25.43 | $18.78 |
| 22. | WesBanco, Inc. | $56.23 | 0.61 | 0.4 | $34.39 | 10.08 | $3.23 B | 4.22% | — | 8% | $38.1 | $29.18 |
| 23. | Associated Banc-Corp | $44.67 | 0.62 | 0.78 | $27.76 | 9.37 | $4.61 B | 3.46% | — | 10.04% | $29.52 | $22.48 |
| 24. | Carter Bankshares, Inc. | $45.91 | 0.62 | 0.43 | $28.54 | 5.86 | $634.22 M | 1.41% | — | 24.82% | $28.75 | $16.14 |
| 25. | Business First Bancshares, Inc. | $45.21 | 0.63 | 0.59 | $28.45 | 10.24 | $931 M | 2.11% | — | 10.06% | $30.32 | $22.52 |
| 26. | LCNB Corp. | $26.59 | 0.63 | 0.41 | $16.82 | 10.54 | $242.04 M | 5.33% | — | 8.48% | $17.89 | $13.75 |
| 27. | FirstSun Capital Bancorp | $56.22 | 0.63 | 0.06 | $35.67 | 16.22 | $1.56 B | — | — | 8.43% | $42.34 | $29.95 |
| 28. | OceanFirst Financial Corp. | $28.24 | 0.64 | 0.95 | $18.14 | 25.25 | $1.77 B | 4.49% | — | 4.22% | $20.61 | $16.09 |
| 29. | Burke & Herbert Financial Services Corp. | $99.72 | 0.65 | 0.63 | $64.49 | 10.91 | $1.28 B | 3.46% | — | 10.34% | $70.9 | $55.4 |
| 30. | Civista Bancshares, Inc. | $40.09 | 0.66 | 0.52 | $26.41 | 10.76 | $549.3 M | 2.76% | — | 10.21% | $28.31 | $18.95 |
| 31. | Kayne Anderson BDC, Inc. | $21.67 | 0.66 | 1.01 | $14.34 | 10.72 | $951.46 M | 11.01% | — | 7.91% | $16.28 | $13.06 |
| 32. | Titan Acquisition Corp | $15.68 | 0.66 | -0.33 | $10.39 | 39.16 | $358.45 M | — | 110.95% | 3.37% | $10.48 | $10 |
| 33. | Provident Financial Services, Inc. | $33.85 | 0.67 | 0.86 | $22.5 | 9.5 | $2.91 B | 4.3% | — | 10.98% | $23.98 | $15.92 |
| 34. | Parke Bancorp, Inc. | $46.89 | 0.67 | 0.44 | $31.19 | 8.78 | $367.3 M | 2.33% | — | 13% | $32.43 | $18.78 |
| 35. | Tompkins Financial Corporation | $131.06 | 0.67 | 0.6 | $87.41 | 7.44 | $1.25 B | 3.09% | — | 19.5% | $88.18 | $59.67 |
| 36. | WaFd, Inc. | $53.3 | 0.67 | 0.6 | $35.57 | 10.12 | $2.55 B | 3.07% | — | 8.36% | $38.59 | $26.31 |
| 37. | F.N.B. Corporation | $26.25 | 0.67 | 0.46 | $17.69 | 10.69 | $6.25 B | 2.95% | — | 8.75% | $19.14 | $13.54 |
| 38. | PTC Therapeutics, Inc. | $105.25 | 0.67 | -13.19 | $70.97 | 793.22 | $5.86 B | — | 44.37% | 0.13% | $87.5 | $43.17 |
| 39. | LINKBANCORP, Inc. | $12.86 | 0.68 | 0.63 | $8.69 | 9.6 | $321.85 M | 3.49% | — | 11.13% | $9.59 | $6.55 |
| 40. | Third Coast Bancshares, Inc. | $57.88 | 0.68 | 0.26 | $39.21 | 9.42 | $650.58 M | 0.73% | — | 12.61% | $43.84 | $29.66 |
| 41. | Bridgewater Bancshares, Inc. | $28.22 | 0.68 | 0.98 | $19.25 | 10.01 | $539.26 M | 0.75% | — | 10.67% | $20.3 | $14.39 |
| 42. | Synchrony Financial | $103.69 | 0.68 | 0.91 | $70.84 | 6.61 | $23.81 B | 1.7% | — | 21.41% | $88.77 | $56.98 |
| 43. | Banc of California, Inc. | $28.14 | 0.69 | 0.85 | $19.27 | 11.99 | $2.97 B | 2.48% | — | 7.07% | $21.61 | $13.24 |
| 44. | Western Alliance Bancorporation | $117 | 0.69 | 0.85 | $80.15 | 8.92 | $8.49 B | 2.1% | — | 12.79% | $97.23 | $65.82 |
| 45. | Prosperity Bancshares, Inc. | $100.8 | 0.69 | 0.26 | $69.36 | 13.22 | $6.99 B | 3.49% | — | 6.8% | $77.2 | $61.07 |
| 46. | Fidelity D & D Bancorp, Inc. | $68.99 | 0.69 | 0.07 | $47.55 | 9.3 | $276.04 M | 3.66% | — | 12.75% | $50 | $39 |
| 47. | Customers Bancorp, Inc. | $106.98 | 0.69 | 0.81 | $73.87 | 9.03 | $2.53 B | 0.29% | — | 13.62% | $82.56 | $50.06 |
| 48. | Farmers National Banc Corp. | $20.53 | 0.69 | 0.76 | $14.19 | 14.77 | $845.89 M | 4.83% | — | 10.62% | $15.5 | $12.12 |
| 49. | Princeton Bancorp, Inc. | $50.77 | 0.69 | 0.08 | $35.22 | 12.33 | $239.89 M | 4.04% | — | 7.26% | $37.99 | $29.21 |
| 50. | The First Bancorp, Inc. | $42.86 | 0.7 | 0.49 | $29.81 | 9.2 | $334.21 M | 5.05% | — | 13.08% | $30.33 | $23.41 |
| 51. | CNB Financial Corporation | $44.58 | 0.7 | 0.36 | $31.05 | 11.38 | $929.46 M | 2.45% | — | 10.08% | $31.8 | $21.19 |
| 52. | Truist Financial Corporation | $70.62 | 0.7 | 0.99 | $49.2 | 11.09 | $61.3 B | 4.23% | — | 8.51% | $56.2 | $38.84 |
| 53. | Farmers & Merchants Bancorp, Inc. | $40.09 | 0.7 | 0.71 | $28.09 | 10.81 | $388.61 M | 3.3% | — | 9.85% | $29.83 | $22.59 |
| 54. | Financial Institutions, Inc. | $52.83 | 0.7 | 0.53 | $37.11 | 9.35 | $738.24 M | 3.5% | — | 12.72% | $37.5 | $24.41 |
| 55. | First Busey Corporation | $39.01 | 0.71 | 0.13 | $27.58 | 10.95 | $2.36 B | 3.79% | — | 8.84% | $27.88 | $21.63 |
| 56. | Flushing Financial Corporation | $21.82 | 0.71 | 0.76 | $15.47 | 15.19 | $524.18 M | 5.69% | — | 4.89% | $17.79 | $11.13 |
| 57. | California BanCorp | $27.08 | 0.71 | 0.09 | $19.26 | 10.33 | $619.49 M | 2.07% | — | 10.59% | $20.47 | $14.07 |
| 58. | Meridian Corporation | $26.46 | 0.71 | 0.26 | $18.89 | 10.47 | $224.61 M | 3.02% | — | 11.2% | $21.67 | $11.16 |
| 59. | Fulton Financial Corporation | $30.66 | 0.72 | 0.18 | $21.95 | 10.71 | $4.21 B | 3.47% | — | 11.45% | $22.99 | $16.6 |
| 60. | Peoples Bancorp Inc. | $48.97 | 0.72 | 0.59 | $35.14 | 11.33 | $1.26 B | 4.79% | — | 9.37% | $35.46 | $27.49 |
| 61. | Columbia Banking System, Inc. | $41.07 | 0.72 | 0.46 | $29.66 | 11.55 | $8.57 B | 5.02% | — | 10.36% | $32.7 | $21.91 |
| 62. | Fiverr International Ltd. | $14.16 | 0.72 | 1.01 | $10.24 | 12.81 | $368.14 M | — | -0.27% | 7.03% | $34.07 | $9.67 |
| 63. | Mercantile Bank Corporation | $72.75 | 0.72 | 0.69 | $52.74 | 9.92 | $911.48 M | 2.96% | — | 13.36% | $55.77 | $42.17 |
| 64. | First Financial Bancorp. | $42.33 | 0.73 | 0.43 | $30.85 | 11.64 | $3.24 B | 3.27% | — | 10.23% | $31.38 | $22.93 |
| 65. | First Business Financial Services, Inc. | $79.45 | 0.73 | 0.7 | $58.13 | 9.39 | $482.25 M | 2.36% | — | 14.12% | $60.54 | $45.9 |
| 66. | Investar Holding Corporation | $39.62 | 0.73 | 0.47 | $29.03 | 13.79 | $394.91 M | 1.54% | — | 9.04% | $31.77 | $17.89 |
| 67. | First Interstate BancSystem, Inc. | $48.5 | 0.73 | 0.09 | $35.57 | 11.07 | $3.46 B | 5.26% | — | 9.13% | $39.26 | $25.81 |
| 68. | Banner Corporation | $87.33 | 0.74 | 0.14 | $64.86 | 10.76 | $2.21 B | 3.22% | — | 10.66% | $69.83 | $57.05 |
| 69. | Huntington Bancshares Incorporated | $22.05 | 0.75 | 0.76 | $16.52 | 15.17 | $33.49 B | 3.75% | — | 8.82% | $19.46 | $14.89 |
| 70. | Enterprise Financial Services Corp | $81.86 | 0.75 | 0.09 | $61.34 | 11.13 | $2.24 B | 2.23% | — | 10.08% | $62.3 | $51.18 |
| 71. | Hanmi Financial Corporation | $40.22 | 0.76 | 0.35 | $30.43 | 11.23 | $909.07 M | 3.68% | — | 10.31% | $31.33 | $22 |
| 72. | Home Bancorp, Inc. | $86.31 | 0.76 | 0.13 | $65.48 | 11.09 | $515.06 M | 1.9% | — | 10.86% | $66.08 | $48.3 |
| 73. | Capital Bancorp, Inc. | $42.8 | 0.76 | 0.13 | $32.66 | 9.63 | $531.97 M | 1.47% | — | 13.94% | $36.4 | $26.4 |
| 74. | United Community Banks, Inc. | $43.63 | 0.76 | 0.03 | $33.34 | 11.68 | $3.98 B | 3.01% | — | 9.4% | $36.77 | $27.23 |
| 75. | Camden National Corporation | $65.88 | 0.77 | 0.56 | $50.5 | 10.65 | $849.37 M | 3.33% | — | 11.66% | $53.71 | $35 |
| 76. | Shore Bancshares, Inc. | $27.32 | 0.77 | 0.17 | $20.99 | 11.08 | $696.39 M | 2.7% | — | 10.76% | $20.9 | $14.35 |
| 77. | Byline Bancorp, Inc. | $43.9 | 0.77 | 0.39 | $33.78 | 10.99 | $1.53 B | 1.43% | — | 11.2% | $34.33 | $24.75 |
| 78. | Timberland Bancorp, Inc. | $54.04 | 0.77 | 0.09 | $41.59 | 10.46 | $323.22 M | 2.81% | — | 11.67% | $43.55 | $29.3 |
| 79. | Old National Bancorp | $31.1 | 0.77 | 0.83 | $23.96 | 12.17 | $9.23 B | 2.42% | — | 9.07% | $26.17 | $19.39 |
| 80. | BayCom Corp | $41.11 | 0.77 | 0.07 | $31.77 | 13.12 | $346.59 M | 3.66% | — | 7.84% | $33.15 | $25.84 |
| 81. | MVB Financial Corp. | $35.93 | 0.78 | 0.22 | $27.86 | 12.55 | $358.32 M | 2.51% | — | 8.79% | $29.59 | $18.96 |
| 82. | First Financial Corporation | $91.52 | 0.78 | 0.29 | $71.08 | 10.49 | $845.51 M | 3.17% | — | 12.81% | $71 | $49.7 |
| 83. | M&T Bank Corporation | $285.84 | 0.78 | 0.45 | $222.44 | 11.18 | $32.78 B | 2.71% | — | 10.25% | $239 | $174.76 |
| 84. | OFG Bancorp | $59.16 | 0.78 | 0.35 | $46.27 | 9.13 | $1.95 B | 0.03% | — | 15.62% | $46.85 | $35.71 |
| 85. | Pinnacle Financial Partners, Inc. | $123.1 | 0.78 | 0.36 | $96.31 | 22.16 | $14.44 B | 2.07% | — | 7.42% | $120.46 | $81.08 |
| 86. | Metropolitan Bank Holding Corp. | $116.01 | 0.78 | 0.01 | $90.85 | 13.05 | $1.12 B | 0.89% | — | 10.95% | $97.84 | $63.06 |
| 87. | Home BancShares, Inc. | $34.52 | 0.79 | 0.18 | $27.12 | 11.44 | $5.47 B | 3.13% | — | 11.29% | $30.83 | $25.5 |
| 88. | Mid Penn Bancorp, Inc. | $41.8 | 0.79 | 0.07 | $32.86 | 16.19 | $829.29 M | 2.71% | — | 6.26% | $35.22 | $25.82 |
| 89. | Heritage Financial Corporation | $35.31 | 0.79 | 0.05 | $27.78 | 15.94 | $1.16 B | 3.48% | — | 7.58% | $28.98 | $21.32 |
| 90. | Webster Financial Corporation | $91.21 | 0.79 | 0.39 | $72.27 | 11.44 | $11.69 B | 2.25% | — | 10.8% | $74 | $50.66 |
| 91. | Virginia National Bankshares Corporation | $53.24 | 0.79 | 0.16 | $42.25 | 10.94 | $219.18 M | 3.36% | — | 11.15% | $48.58 | $36.48 |
| 92. | CoastalSouth Bancshares, Inc. | $32.7 | 0.79 | 0.12 | $25.97 | 12.01 | $314.41 M | 0.77% | — | 10.66% | $26.36 | $19.24 |
| 93. | Gencor Industries, Inc. | $18.41 | 0.8 | 0.12 | $14.68 | 14.04 | $214.59 M | — | 6.56% | 7.25% | $17.4 | $12.22 |
| 94. | Citizens Community Bancorp, Inc. | $25.92 | 0.8 | 0.28 | $20.75 | 13.36 | $200.12 M | 2.04% | — | 8% | $22.62 | $12.83 |
| 95. | UMB Financial Corporation | $162.28 | 0.8 | 0.03 | $129.92 | 11.08 | $9.78 B | 1.34% | — | 11.67% | $136.11 | $98.16 |
| 96. | First Hawaiian, Inc. | $34.07 | 0.8 | 0 | $27.35 | 11.7 | $3.33 B | 3.82% | — | 10.39% | $28.35 | $22.64 |
| 97. | Colony Bankcorp, Inc. | $25.2 | 0.8 | 0.69 | $20.24 | 14.42 | $430.39 M | 2.39% | — | 8.83% | $21.61 | $15 |
| 98. | FVCBankcorp, Inc. | $20.2 | 0.8 | 0.1 | $16.23 | 12.55 | $292.09 M | 1.75% | — | 9.25% | $18.41 | $11.13 |
| 99. | KeyCorp | $27.07 | 0.8 | 0.54 | $21.76 | 12.14 | $23.63 B | 3.78% | — | 9.74% | $23.35 | $15.59 |
| 100. | Hilltop Holdings Inc. | $46.43 | 0.81 | 0.23 | $37.37 | 13.54 | $2.18 B | 2.15% | — | 7.42% | $40.41 | $28.92 |
| 101. | Legacy Housing Corporation | $29.59 | 0.81 | 0.48 | $23.83 | 13.35 | $566.72 M | — | 9.07% | 8.08% | $29.45 | $18.29 |
| 102. | Citizens Financial Group, Inc. | $79.25 | 0.81 | 0.43 | $63.98 | 13.68 | $27.02 B | 2.88% | — | 7.63% | $68.79 | $39.7 |
| 103. | U.S. Bancorp | $68.78 | 0.81 | 1.05 | $55.69 | 10.57 | $82.49 B | 3.94% | — | 12.21% | $61.19 | $42.55 |
| 104. | Regions Financial Corporation | $35.22 | 0.81 | 0.26 | $28.54 | 10.85 | $24.14 B | 3.73% | — | 11.78% | $31.53 | $21.12 |
| 105. | Univest Financial Corporation | $50.06 | 0.81 | 0.35 | $40.57 | 11.39 | $1.09 B | 2.43% | — | 10.19% | $40.91 | $27.91 |
| 106. | Unity Bancorp, Inc. | $68.02 | 0.81 | 0.77 | $55.17 | 8.9 | $539.4 M | 1.21% | — | 17.87% | $57.3 | $41.67 |
| 107. | Great Southern Bancorp, Inc. | $90.35 | 0.81 | 0.56 | $73.31 | 11.31 | $806.1 M | 2.37% | — | 11.29% | $74.42 | $53.76 |
| 108. | Commercial Bancgroup, Inc. | $36.57 | 0.81 | 0.52 | $29.74 | 10.51 | $399.8 M | 1.37% | — | 14.36% | $30.17 | $23.23 |
| 109. | S&T Bancorp, Inc. | $56.04 | 0.81 | 0.18 | $45.6 | 12.17 | $1.65 B | 3.26% | — | 9.35% | $45.63 | $34.01 |
| 110. | Bankwell Financial Group, Inc. | $65.9 | 0.81 | 0.6 | $53.67 | 10.72 | $424.49 M | 1.5% | — | 13.31% | $53.98 | $33.85 |
| 111. | Plum Acquisition Corp. IV | $13.07 | 0.82 | 0 | $10.66 | 42.58 | $258.43 M | — | -0.56% | 3.5% | $10.84 | $10.18 |
| 112. | Hawthorn Bancshares, Inc. | $44.53 | 0.82 | 0.89 | $36.41 | 10.05 | $242.76 M | 2.37% | — | 14.39% | $37.3 | $27.07 |
| 113. | LendingClub Corporation | $20.91 | 0.82 | 1.05 | $17.15 | 11.54 | $2.03 B | — | — | 11.92% | $21.67 | $10.12 |
| 114. | Photronics, Inc. | $35.37 | 0.82 | 0 | $29.15 | 11.33 | $1.8 B | — | 12.7% | 13.39% | $56 | $17.57 |
| 115. | NB Bancorp, Inc. | $24.15 | 0.82 | 0.23 | $19.93 | 15.75 | $828.88 M | 1.41% | — | 6.63% | $22.86 | $15.44 |
| 116. | Beacon Financial Corporation | $34.73 | 0.83 | 0.35 | $28.83 | 19.23 | $2.42 B | 4.51% | — | 5.82% | $32.83 | $22.81 |
| 117. | Ames National Corporation | $35.8 | 0.83 | 0.1 | $29.81 | 12.13 | $261.29 M | 3.29% | — | 10.65% | $29.71 | $16.94 |
| 118. | South Plains Financial, Inc. | $49.39 | 0.83 | 0.12 | $41.13 | 12.97 | $787.46 M | 1.66% | — | 12.58% | $45.09 | $33.66 |
| 119. | First Horizon Corporation | $28.98 | 0.83 | 0.17 | $24.16 | 11.26 | $11.55 B | 2.8% | — | 11.42% | $26.56 | $19.04 |
| 120. | HP Inc. | $30.64 | 0.83 | -31.45 | $25.58 | 9.16 | $23.38 B | 4.56% | 28.97% | 16.85% | $29.65 | $17.56 |
| 121. | TriCo Bancshares | $60.39 | 0.84 | 0.06 | $50.69 | 12.64 | $1.63 B | 2.84% | — | 9.87% | $53.18 | $36.32 |
| 122. | Amerant Bancorp Inc. | $27.08 | 0.84 | 0.98 | $22.78 | 15.37 | $896.5 M | 1.6% | — | 6.27% | $24.38 | $15.62 |
| 123. | Cathay General Bancorp | $68.92 | 0.84 | 0.06 | $58.22 | 11.71 | $3.89 B | 2.61% | — | 11.37% | $58.68 | $42.01 |
| 124. | Texas Capital Bancshares, Inc. | $120.14 | 0.85 | 0.25 | $101.69 | 12.47 | $4.45 B | 0.78% | — | 9.93% | $108.92 | $71.26 |
| 125. | CVB Financial Corp. | $24.19 | 0.85 | 0.22 | $20.5 | 17.38 | $3.63 B | 3.91% | — | 9.16% | $21.48 | $17.95 |
| 126. | Southside Bancshares, Inc. | $38.94 | 0.85 | 0.87 | $33.15 | 13.76 | $976.3 M | 4.37% | — | 8.49% | $34.53 | $26.32 |
| 127. | Hope Bancorp, Inc. | $14.75 | 0.85 | 0.2 | $12.6 | 23.05 | $1.61 B | 4.45% | — | 3.1% | $13.02 | $9.44 |
| 128. | 1st Source Corporation | $88.02 | 0.86 | 0.16 | $75.35 | 11.22 | $1.8 B | 2.3% | — | 12.89% | $76.44 | $56.89 |
| 129. | Northwest Bancshares, Inc. | $16.53 | 0.86 | 0.37 | $14.19 | 15.58 | $2.07 B | 5.65% | — | 7.3% | $14.28 | $11.25 |
| 130. | Thayer Ventures Acquisition Corporation II | $11.96 | 0.86 | 0 | $10.3 | 55.57 | $280.12 M | — | -0.59% | 2.56% | $10.5 | $9.75 |
| 131. | Southern Missouri Bancorp, Inc. | $80.78 | 0.86 | 0.23 | $69.7 | 11.54 | $777.48 M | 1.45% | — | 12% | $70.35 | $47.6 |
| 132. | Orange County Bancorp, Inc. | $40.34 | 0.86 | 0.12 | $34.88 | 10.58 | $467.67 M | 2.11% | — | 16.09% | $37.99 | $22.84 |
| 133. | Wells Fargo & Company | $94.64 | 0.87 | 1.07 | $81.94 | 11.1 | $240.78 B | 2.27% | — | 12.02% | $97.76 | $71.93 |
| 134. | Renasant Corporation | $47.11 | 0.87 | 0.27 | $40.83 | 16.56 | $3.77 B | 2.37% | — | 5.94% | $42.11 | $33.04 |
| 135. | Community Trust Bancorp, Inc. | $77.98 | 0.87 | 0.09 | $67.58 | 11.92 | $1.23 B | 3.14% | — | 12.27% | $68.72 | $49.61 |
| 136. | Wintrust Financial Corporation | $175.82 | 0.87 | 0.62 | $152.9 | 11.58 | $9.98 B | 1.51% | — | 11.93% | $162.96 | $116.57 |
| 137. | Arrow Financial Corporation | $42.88 | 0.87 | 0.07 | $37.46 | 12.21 | $624.47 M | 3.25% | — | 12.04% | $38.09 | $24.57 |
| 138. | Ategrity Specialty Insurance Company Holdings | $23.23 | 0.88 | 0.34 | $20.34 | 10.74 | $976.98 M | 0.91% | — | 15.21% | $25.3 | $16.35 |
| 139. | Independent Bank Corp. | $90.59 | 0.88 | 0.23 | $79.57 | 16 | $3.85 B | 3.25% | — | 7.01% | $87 | $57.01 |
| 140. | German American Bancorp, Inc. | $50.16 | 0.88 | 0.12 | $44.28 | 12.37 | $1.67 B | 2.84% | — | 11.95% | $45 | $36.55 |
| 141. | First National Corporation | $32.86 | 0.88 | 0.23 | $29.06 | 12.52 | $262.73 M | 2.4% | — | 11.51% | $29.85 | $18.31 |
| 142. | Peoples Bancorp of North Carolina, Inc. | $48.5 | 0.89 | 0.12 | $43.08 | 11.61 | $230.91 M | 2% | — | 13.07% | $43.31 | $26.81 |
| 143. | National Bank Holdings Corporation | $47.27 | 0.89 | 0.04 | $42.19 | 17.61 | $1.87 B | 3.07% | — | 7.35% | $43.86 | $35.06 |
| 144. | Strattec Security Corporation | $86.5 | 0.89 | 0.95 | $77.31 | 13.11 | $327.56 M | — | 8.37% | 10.75% | $92.5 | $53 |
| 145. | Capital City Bank Group, Inc. | $50.72 | 0.89 | 0.13 | $45.34 | 12.63 | $764.09 M | 2.44% | — | 11.1% | $48.78 | $35.94 |
| 146. | Popular, Inc. | $170.4 | 0.9 | 0.25 | $153.07 | 10.91 | $9.83 B | 0.02% | — | 14.64% | $153.99 | $102.56 |
| 147. | Hancock Whitney Corporation | $77.22 | 0.9 | 0.3 | $69.38 | 13.6 | $5.63 B | 2.89% | — | 9.35% | $75.43 | $52.89 |
| 148. | Central Pacific Financial Corp. | $38.93 | 0.9 | 0.17 | $35.19 | 11.38 | $915.76 M | 3.34% | — | 13.73% | $35.5 | $25.62 |
| 149. | The PNC Financial Services Group, Inc. | $251.73 | 0.91 | 0.94 | $228.37 | 12.57 | $90.67 B | 2.99% | — | 11.98% | $243.94 | $172.73 |
| 150. | Midland States Bancorp, Inc. | $31.31 | 0.91 | 0.67 | $28.53 | 16.79 | $590.18 M | 4.49% | — | 6.16% | $28.8 | $14.24 |
| 151. | Westamerica Bancorporation | $61.84 | 0.92 | 0.02 | $56.58 | 11.48 | $1.29 B | 3.54% | — | 12.26% | $57 | $44.93 |
| 152. | Live Oak Bancshares, Inc. | $40.83 | 0.92 | 0.08 | $37.41 | 13.8 | $1.74 B | 0.32% | — | 10.54% | $42.89 | $27.17 |
| 153. | Axos Financial, Inc. | $94.79 | 0.93 | 0.14 | $87.81 | 10.49 | $5 B | — | — | 16.6% | $101.92 | $69.19 |
| 154. | EverQuote, Inc. | $20.8 | 0.93 | 1.08 | $19.32 | 6.21 | $683.41 M | — | 27.77% | 53.39% | $28.73 | $13.88 |
| 155. | Insteel Industries Inc. | $30.58 | 0.93 | 0.99 | $28.44 | 13.21 | $561.62 M | 0.42% | 13.72% | 11.72% | $41.64 | $24.35 |
| 156. | Ohio Valley Banc Corp. | $51.71 | 0.93 | 0.32 | $48.15 | 14.68 | $227.45 M | 2.07% | — | 9.29% | $50.68 | $27.51 |
| 157. | HBT Financial, Inc. | $30.93 | 0.94 | 0.11 | $28.95 | 15.23 | $1.05 B | 3.21% | — | 10.87% | $29.88 | $22.36 |
| 158. | Pathward Financial, Inc. | $84.62 | 0.94 | 0.05 | $79.89 | 8.94 | $1.69 B | 0.25% | — | 22.35% | $101.26 | $65.87 |
| 159. | First Western Financial, Inc. | $30.78 | 0.95 | 0.41 | $29.18 | 18.66 | $283.89 M | — | — | 5.74% | $30 | $20.29 |
| 160. | USCB Financial Holdings, Inc. | $19.66 | 0.96 | 0.94 | $18.79 | 11.85 | $329.3 M | 2.47% | — | 12.62% | $20.79 | $15.56 |
| 161. | First BanCorp. | $25.19 | 0.96 | 0.15 | $24.32 | 10.56 | $3.77 B | 0.03% | — | 18.53% | $24.64 | $19.16 |
| 162. | Stellar Bancorp, Inc. | $38.9 | 0.97 | 0.02 | $37.59 | 18.26 | $1.92 B | 1.6% | — | 6.38% | $40.21 | $26.3 |
| 163. | Peapack-Gladstone Financial Corporation | $45.69 | 0.97 | 0.33 | $44.22 | 17.7 | $776.86 M | 0.46% | — | 6.68% | $44.6 | $24.42 |
| 164. | TrustCo Bank Corp NY | $54.11 | 0.97 | 0.05 | $52.53 | 14.59 | $921.1 M | 2.89% | — | 9.21% | $52.98 | $30.52 |
| 165. | Citizens & Northern Corporation | $21.7 | 0.98 | 0.55 | $21.35 | 21.7 | $377.68 M | 5.36% | — | 5.54% | $24.12 | $18.02 |
| 166. | Origin Bancorp, Inc. | $48.32 | 0.99 | 0.02 | $48.06 | 18.46 | $1.49 B | 2.08% | — | 6.53% | $48.67 | $32.12 |
| 167. | Red River Bancshares, Inc. | $91.29 | 1 | 0 | $91.24 | 13.54 | $600.79 M | 1.11% | — | 12.46% | $98.85 | $55.1 |