Investors interested in Banks - Foreign stocks are likely familiar with Shinhan Financial (SHG) and ING Groep (ING). 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.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Shinhan Financial and ING Groep are sporting Zacks Ranks of #1 (Strong Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that SHG is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.SHG currently has a forward P/E ratio of 5.21, while ING has a forward P/E of 11.70. We also note that SHG has a PEG ratio of 2.14. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ING currently has a PEG ratio of 2.50.Another notable valuation metric for SHG is its P/B ratio of 0.43. 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, ING has a P/B of 0.58.Based on these metrics and many more, SHG holds a Value grade of A, while ING has a Value grade of D.SHG 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 SHG 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 Shinhan Financial Group Co Ltd (SHG): Free Stock Analysis Report ING Group, N.V. (ING): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research