Amalgamated Financial falls after Piper Sandler cuts to 'underweight'

Shares of U.S. bank Amalgamated Financial AMAL.O 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