Shares increased 3.4% in the last month and more than 4% Monday. The banks have headwinds with regulators and political opportunists. At the same time, the Fed has the real estate market's back and cheap money is here to stay until the overall economy improves. While Citi is making new yearly highs, keep in mind that from a longer term historic point of view, Citi is cheap. Citi is cheap based on earnings and estimated forward looking earnings. Citi is cheap from a vantage point of assets in the book. You will likely get a chance to enter near or under $39 so don't feel a need to chase this one higher. The last reported short interest is paltry and without reason to consider it a meaningful influence at only 2% of the average trading float. C Revenue Per Share TTM data by YCharts BAC data by YCharts Bank of America ( BAC) Bank of America is one of the world's leading financial services companies. Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the U.S. and around the world. Bank Of America trades an average of 150 million shares per day with a market cap of $119 billion. 52 Week High: $10.71 Beta: 1.77 Price to Book: 0.52 In the last month, the stock has really moved higher with a 11.6% increase. The run Bank of America performed in the last few months is nothing short of incredible. Well, maybe not incredible after discounting the Fed's actions, but impressive none the less. I traded BAC in the after-hour session on Monday. BAC is somewhat extended, and like several others in this article, I would sit on my hands before entering into a position for a long term hold. With that said, you want exposure in the banking space. You have the Fed watching your back, and at the point the Fed no longer is holding the floor in place, the overall economy should provide plenty of forward motion. BAC Revenue Per Share TTM data by YCharts At the time of publication, the author had recently traded BAC but currently held no position in any of the stocks mentioned.Follow @RobertWeinsteinThis article is commentary by an independent contributor, separate from TheStreet's regular news coverage.