Preheat the oven to 350 degrees F.
In a food processor, add the almonds and pulse until they are finely chopped. Add the basil, black pepper and cinnamon and process until incorporated. Add 1 cup of the cheese, pulse a few times, then with the machine still running, slowly add in the olive oil.
Cut the bread in half, spread it with the pesto and bake on a cookie sheet for 7 to 10 minutes. At this point, remove the bread, sprinkle it with the remaining 1/3 cup of cheese and turn on the broiler. Broil the bread until the cheese has melted and starting to brown. Remove from the oven, cut it into 8 portions and serve immediately.