Amalgamated Financial falls after Piper Sandler cuts to 'underweight'

** Shares of U.S. bank Amalgamated Financial AMAL down ~5.2% at $27.27 in premarket trading

** Piper Sandler downgrades the stock to "underweight" from "neutral"

** Slashes PT to $27 from $34; represents a 6.5% downside to the stock's last close on Monday

** " ... due to the company being the bank of the Democratic Party and being a major player in the Green Energy space, it could see parts of its business pressured and regulatory scrutiny ramp up under the new Trump administration," the brokerage says

** The company may be drawn into a more complex regulatory process, which could not only divert management’s attention but also potentially lead to broader adverse outcomes, says Piper Sandler

** On average, stock is rated "hold" by two analysts; median PT is $33 - data compiled by LSEG

** Up to last day's close, stock had fallen ~14% YTD