Customers Bancorp initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Customers Bancorp (CUBI) with an Overweight rating and $90 price target The firm says Customers has evolved into a commercial bank with $25B in assets providing lending, deposit, treasury, and payments services to a national customer base. The bank has expanded into higher-growth commercial lending verticals, including specialty commercial real estate, the analyst tells investors in a research note.