Is TFS Financial Corp. overvalued or undervalued?

As of 10 July 2017, TFS Financial Corp. moved from fair to very attractive in its valuation grade. The company appears to be undervalued, particularly when considering its P/E ratio of 55, which is significantly higher than peers such as Webster Financial Corp. at 12.40 and Provident Financial Services, Inc. at 10.67. Additionally, TFS has a price-to-book value of 2.33 and an EV to EBITDA ratio of 80.41, indicating a premium compared to its industry counterparts.
Despite the attractive valuation grade, TFS Financial Corp. has underperformed against the S&P 500 in multiple periods, with a YTD return of 6.13% compared to the index's 12.22%. Over the past three years, the stock has declined by 2.27%, while the S&P 500 has gained 70.41%, highlighting a significant disparity in performance.