Is Bogota Financial Corp. overvalued or undervalued?

As of 28 November 2025, the valuation grade for Bogota Financial Corp. has moved from fair to expensive, indicating a shift towards overvaluation. The company appears to be overvalued based on its Price to Book Value of 0.70, EV to Capital Employed of 0.83, and a negative EV to EBIT of -19.10. In comparison to peers, Ponce Financial Group, Inc. has a very attractive P/E ratio of 21.78, while Western New England Bancorp, Inc. is also considered expensive with a P/E of 20.74.
The stock has underperformed relative to the S&P 500, with a year-to-date return of 11.73% compared to the S&P 500's 16.45%, and a significant decline of -26.69% over three years versus the S&P 500's gain of 72.78%. This performance reinforces the conclusion that Bogota Financial Corp. is overvalued in the current market environment.