Investors Bancorp (ISBC - Get Report) is a safe bet to make money over the long term, Blue Harbor founder and CEO Cliff Robbins said on CNBC's "Squawk on the Street" on Wednesday morning. His firm has had a "very good" year, while many activist hedge funds have struggled in the past year, CNBC's David Faber noted on the show. 

Bancorp is a stock that worked well for the firm this year and should continue this trend in 2017, Robbins claimed. 

"There's been lots of things working in our portfolio, and I'm quite excited about some of those developments and what they might mean for next year, such as Investors Bancorp, which is a community bank in New Jersey, Pennsylvania and New York," he said. 

The company will benefit from the interest rate hike that the Fed is expected to announce later today, because it will improve margins for banks, he said. 

In addition, the firm is doing a "major sort of capital redeployment" with Bancorp because it has a lot of "excess capital" in its balance sheet, Robbins said. The company bought back 10% of its stock this year due to the firm's "urging" and has significantly increased its dividends. 

"This is a company that also has significant strategic value so I would keep an eye on that for the years ahead," he added. 

While the firm went into 2016 thinking banks overall would be a wise investment due to the expected rate hike, Bancorp is special, Robbins noted. "Specifically we love this bank because of its excellent management team and the balance sheet it has."