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 overvalued based on key metrics, including a Price to Book Value of 0.70, an EV to EBIT of -19.10, and an EV to Sales ratio of 4.76. In comparison to peers, Ponce Financial Group, Inc. has a significantly more attractive P/E ratio of 21.78, while Western New England Bancorp, Inc. also shows an expensive valuation at 20.74.
The recent stock performance further underscores this valuation concern, as Bogota Financial Corp. has underperformed against the S&P 500 across multiple periods, including a 3-year return of -26.69% compared to the S&P 500's 72.78%. This trend suggests that the market may be pricing in higher risks associated with Bogota Financial Corp., reinforcing the conclusion that it is currently overvalued.