Bank of America stock cracks $11

Bank of America's stock price continued its recent rapid ascent Monday, finishing up nearly 4 percent to close at $11 for the first time in a year and a half.

The Charlotte bank led the Dow Jones Industrial Average on a good day for financial stocks in general. 

Some investment managers attributed the increase to more optimism that a deal would be reached on the “fiscal cliff” -- or tax increases and spending cuts set to go into effect Jan. 1.

The last time Bank of America’s shares closed at $11 was July 5, 2011.

The bank’s shares are now up nearly 98 percent this year. They’ve risen 20 percent in the past month.