CRJ-900 flight crew reported setting incorrect altitude for approach. Flight crew realized mistake; corrected glidepath and landed uneventfully.

Narrative

Descended below FAF on approach ZZZ ILS XRWe were cleared descend and maintain 2000 til established cleared ILS XR. While still in a descent to 2000 the Pilot Flying (PF) stated to the Pilot Monitoring (PM) that we were cleared the ILS not the visual to XR and the missed approach altitude is 4000. The PM set 4000 in the altitude pre select before the a/c alts capped at 2000. The aircraft continued down to 1100 ft. before the PF realized what had happened. The PF immediately disconnected the auto pilot and re established the glide slope; continued the approach and we landed uneventfully.As per ZZZ we were issued a descending turn with a speed restriction. Crew was competent and had no problem with the instructions. When the PF (Captain) stated the missed approach altitude of 4000 and the PM (First Officer) had set it prior to alts capping at 2000; I; the PF did not verify it; therefore did not realize the altitude pre select had been changed from 2000 to 4000. If proper SOPs had been followed we would have caught this. Suggestion is to always verify any changes in the Mode Control Panel as per SOPs"