FIRST BUSINESS FINANCIAL SERVICES, INC. - Common Stock (FBIZ) Institutional Ownership

13F Institutional Holders and Ownership History from Q1 2014 to Q4 2025

Type / Class
Equity / Common Stock
Symbol
FBIZ on Nasdaq
Shares outstanding
8,268,347
Price per share
$54.30
All holders as of 30 Sep 2025
Q3 2025
Total 13F shares
5,699,610
Total reported value
$292,143,240
% of total 13F portfolios
0%
Share change
+70,562
Value change
+$3,648,357
Number of holders
135
Price from insider filings
$54.30
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors

Significant Owners of FIRST BUSINESS FINANCIAL SERVICES, INC. - Common Stock (FBIZ) based on Schedule 13D/G filings

Filer Ownership Change % Holdings Value Net Change Nb Shares Change % Reporting Name Report Period
BlackRock, Inc. 6.1% $24,214,669 505,631 BlackRock, Inc. 31 Mar 2025
VANGUARD GROUP INC 5.4% $21,516,019 449,280 The Vanguard Group 31 Mar 2025
BlackRock Portfolio Management LLC 4.9% -18% $20,767,938 -$4,835,356 405,149 -19% BlackRock Portfolio Management LLC 30 Sep 2025

As of 30 Sep 2025, 135 institutional investors reported holding 5,699,610 shares of FIRST BUSINESS FINANCIAL SERVICES, INC. - Common Stock (FBIZ). This represents 69% of the company’s total 8,268,347 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of FIRST BUSINESS FINANCIAL SERVICES, INC. - Common Stock (FBIZ) together control 57% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution Ownership % Shares Held Share Change % Portfolio % Holdings Value
BlackRock, Inc. 11% 882,267 -6.8% 0% $45,225,006
DIMENSIONAL FUND ADVISORS LP 6.1% 505,577 -0.75% 0.01% $25,915,657
VANGUARD GROUP INC 5.8% 481,681 +6.8% 0% $24,690,968
FIRST BUSINESS FINANCIAL SERVICES, INC. 4.5% 374,233 -5.1% 1.8% $19,183,184
MANUFACTURERS LIFE INSURANCE COMPANY, THE 3.1% 254,821 -2% 0.01% $13,062,124
GEODE CAPITAL MANAGEMENT, LLC 2.8% 228,703 +23% 0% $11,725,423
AMERICAN CENTURY COMPANIES INC 2.4% 198,245 +16% 0.01% $10,162,039
BANC FUNDS CO LLC 2.3% 193,524 -27% 1.7% $9,920,040
STATE STREET CORP 1.9% 158,961 +2.1% 0% $8,148,341
Cutler Capital Management, LLC 1.9% 155,493 -0.2% 2.5% $7,970,595
Pacific Ridge Capital Partners, LLC 1.7% 144,623 -2.2% 1.6% $7,413,375
RENAISSANCE TECHNOLOGIES LLC 1.7% 141,565 -6% 0.01% $7,256,622
LSV ASSET MANAGEMENT 1.5% 124,389 +45% 0.01% $6,376,000
De Lisle Partners LLP 1.1% 93,640 +5.6% 0.59% $4,803,092
Hillsdale Investment Management Inc. 1% 83,971 -19% 0.13% $4,304,352
AQR CAPITAL MANAGEMENT LLC 1% 83,617 +239% 0% $4,286,207
NORTHERN TRUST CORP 1% 82,993 +3.4% 0% $4,254,220
BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.87% 72,061 -12% 0.08% $3,693,847
FEDERATED HERMES, INC. 0.87% 71,865 +0.86% 0.01% $3,683,800
ALLIANCEBERNSTEIN L.P. 0.86% 71,334 -0.7% 0% $3,656,581
M3F, Inc. 0.8% 66,477 -31% 0.97% $3,408,000
Poehling Capital Management, INC. 0.71% 58,327 0% 0.63% $2,989,842
VISTA INVESTMENT MANAGEMENT 0.63% 52,328 -2.1% 0.94% $2,682,312
AMERIPRISE FINANCIAL INC 0.6% 49,509 +11% 0% $2,537,830
GOLDMAN SACHS GROUP INC 0.6% 49,312 +48% 0% $2,527,733

Institutional Holders of FIRST BUSINESS FINANCIAL SERVICES, INC. - Common Stock (FBIZ) across Reporting Periods

Period Reported Shares, Excl. Options Value, Excl. Options Value Change Price (Median) Investors
2025 Q4 105,758 $5,745,940 +$200,666 $54.30 14
2025 Q3 5,699,610 $292,143,240 +$3,648,357 $51.26 135
2025 Q2 5,626,591 $285,097,936 +$1,653,008 $50.66 115
2025 Q1 5,597,224 $263,907,171 +$2,289,980 $47.15 115
2024 Q4 5,551,052 $256,954,385 +$11,461,319 $46.29 103
2024 Q3 5,296,969 $241,344,989 +$2,402,089 $45.59 94
2024 Q2 5,206,791 $192,570,606 +$162,688 $36.99 88
2024 Q1 5,196,997 $194,878,542 -$553,211 $37.50 82
2023 Q4 5,162,109 $207,013,776 +$2,338,037 $40.10 83
2023 Q3 5,202,784 $156,127,968 -$1,571,625 $30.01 81
2023 Q2 5,287,298 $155,969,617 -$2,389,987 $29.49 80
2023 Q1 5,336,490 $162,794,851 -$1,526,643 $30.51 85
2022 Q4 5,369,022 $196,233,378 -$6,892,044 $36.55 89
2022 Q3 5,572,526 $180,318,418 -$1,089,352 $32.31 85
2022 Q2 5,523,377 $172,268,086 +$11,813,719 $31.19 88
2022 Q1 5,210,745 $170,963,297 +$3,840,887 $32.81 75
2021 Q4 5,108,578 $149,013,892 -$1,824,537 $29.17 73
2021 Q3 5,017,985 $144,072,491 -$4,172,856 $28.71 75
2021 Q2 5,171,942 $140,048,682 -$10,214,952 $27.07 77
2021 Q1 5,571,610 $137,788,031 +$4,602,540 $24.73 77
2020 Q4 5,387,810 $99,205,322 +$29,483 $18.41 69
2020 Q3 5,398,228 $77,146,409 -$1,780,757 $14.29 73
2020 Q2 5,510,204 $90,447,649 -$582,471 $16.45 79
2020 Q1 5,552,865 $86,059,680 -$1,019,051 $15.50 77
2019 Q4 5,592,641 $147,259,683 +$1,038,867 $26.33 81
2019 Q3 5,556,989 $133,881,964 +$358,457 $24.08 80
2019 Q2 5,540,804 $130,205,714 +$2,215,993 $23.50 75
2019 Q1 5,481,001 $109,731,195 -$1,429,011 $20.02 76
2018 Q4 5,534,913 $107,966,195 +$22,649 $19.51 75
2018 Q3 5,531,452 $128,199,560 +$865,039 $23.18 74
2018 Q2 5,490,906 $142,736,504 -$904,953 $26.00 78
2018 Q1 5,529,563 $139,444,457 +$5,688,821 $25.16 73
2017 Q4 5,323,148 $117,749,423 +$551,232 $22.12 69
2017 Q3 5,156,781 $117,283,611 -$1,858,767 $22.75 63
2017 Q2 5,237,312 $120,873,280 +$574,728 $23.08 60
2017 Q1 5,183,236 $134,552,635 +$12,936,323 $25.96 64
2016 Q4 5,089,938 $120,710,553 +$350,346 $23.72 71
2016 Q3 4,995,268 $117,386,235 -$1,001,892 $23.50 70
2016 Q2 5,037,975 $118,241,271 -$1,852,141 $23.47 76
2016 Q1 5,119,573 $117,308,056 +$3,568,705 $22.93 79
2015 Q4 4,957,030 $123,979,725 +$5,203,443 $25.01 72
2015 Q3 4,730,065 $111,728,463 +$57,037,238 $23.52 66
2015 Q2 2,243,449 $105,171,162 +$2,573,683 $46.88 74
2015 Q1 2,193,498 $94,973,664 -$1,702,932 $43.24 66
2014 Q4 2,228,464 $106,717,295 +$9,191,393 $47.91 66
2014 Q3 2,037,659 $89,450,843 +$2,108,709 $43.90 67
2014 Q2 1,984,305 $93,277,384 +$15,470,952 $47.03 70
2014 Q1 1,654,713 $78,068,000 +$4,781,578 $47.18 50