The stock inched near bear market territory. As of its session low of $45.19, Wells Fargo shares were about 19.8 percent below their 52-week intraday high of $56.34.
A bear market is defined by a 20 percent drop in a stock from its 52-week intraday high.
Officials announced last week that Wells Fargo will pay $185 million in penalties and $5 million to customers for opening fee-generating accounts without authorization. Over a five-year period, 5,300 Wells Fargo employees were fired over the practice cited by the Consumer Financial Protection Bureau, CNBC confirmed.
Wells Fargo declined to comment to CNBC.