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Wells Fargo, a buy after bad behavior?

Wells Fargo's reputation as the good guy may be over.

Last week the Consumer Financial Protection Bureau slapped the bank with a $185 million fine -- the bureau's largest ever -- after it came to light that bank employees were opening new accounts without customers' permission.

Employees reportedly created these unwanted accounts to meet sales targets.

Following the malpractice, Wells Fargo announced yesterday that going forward it will eliminate product sales goals for retail bankers.

But the drama doesn't stop there.

A Wells Fargo branch in New York City.
Scott Mlyn | CNBC
A Wells Fargo branch in New York City.

CEO John Stumpf will appear before the Senate Banking Committee later this month. He is expected to answer questions about how the company's culture may have prompted employees to step over the law.

The bank's illicit behavior has not been lost on stock.

Following a more than 5% drop in share price, Wells Fargo is no longer the largest U.S. bank by market capitalization -- J.P. Morgan now gets that title.

But does the drama and subsequent sell-off create a buying opportunity for investors? Is this snafu a one-time only problem, or is it indicative of something bigger? The "Halftime Report" traders debated the pros and cons of the WFC trade.

Trader disclosure: On September 14, 2016 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders:

Steve Weiss: Long: AAL, AKAM, BAC, HZNP, MU, OA, SRPT Long Puts: SRPT

Jim Lebenthal: Long: AAPL, BA, C, CSCO, DCO, DIS, EEQ, GM, INTC, JCP, KMI,MPC, ORBC, PFE, QCOM, QRVO, SPLS, TIF, TRN, TWX, WGO

Jon Najarian: Long Stock: BLUE, CSX, FNSR, GSAT, INO, LXRX, XON LongCalls: AAPL, BMY, FIT, FXI, GLD, KATE, MGM, MSFT, NFLX, NVAX, QRVO, SCHW, SWKS,TLRD, TWTR, WLL

Pete Najarian: Long Stock: AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO,LUX, PEP, PFE, VIAB Long Calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM,CSCO, CYH, DISH, DVN, EGO, ETP, FSLR, FXI, GLD, GS, HALO, JBLU, KGC, KMI, KO,LLY, LULU, M, MS, MT, NEM, SBUX, SLW, SLV, SWKS, SYMC, TGT, TWTR, TTS, UA, VRX,XLE Puts: CLV, MBLY, MRO, TSLA, EEM