Is Timberland Bancorp, Inc. (Washington) overvalued or undervalued?

As of 18 October 2023, Timberland Bancorp, Inc. has moved from an attractive to a fair valuation grade. The company is currently fairly valued based on its financial metrics. Key ratios include a P/E ratio of 9, a Price to Book Value of 0.96, and an impressive ROCE of 46.13%.
In comparison to its peers, Timberland's P/E ratio is lower than Brookline Bancorp, Inc. at 12.51 and Capitol Federal Financial, Inc. at 14.60, indicating it may be undervalued relative to these competitors. Additionally, Timberland's PEG ratio of 1.58 is on par with the industry average, suggesting that its growth prospects are reasonably priced. While the stock has performed well against the S&P 500 over the past year, returning 18.14% compared to the index's 10.26%, the overall valuation suggests it is fairly positioned in the market.