NEW YORK (TheStreet) -- Shares of SunTrust (STI - Get Report) are up about 15% since election day on November 8, as bank stocks continue to rally on the anticipation that President-elect Donald Trump will roll back regulation in the sector. 

That dramatic jump in price is justified because it's a reflection of a couple of things, rather than just the hope for deregulation, SunTrust CEO William Rogers said on CNBC's "Squawk Box" on Tuesday morning.

First, there's the anticipation of a pro-growth environment, whether that actually comes or not, he noted. Banks have a "fuel for growth" so if we do get growth, then banks will "lead" that growth in "many ways." 

Second, the expectation that the Fed will hike interest rates in December is also driving the price up.

While some investors may be focused on the expected deregulation coming, that's more of a "longer play and longer pull," Rogers claimed. "And the impact financially takes a longer time to realize," he added. "So I really think it's pro-growth, and I think it's growth. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings team rates Suntrust Banks as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that the team rates.

You can view the full analysis from the report here: STI