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
$56.42
All holders as of 31 Dec 2025
Q4 2025
Total 13F shares
5,713,528
Total reported value
$310,248,797
% of total 13F portfolios
0%
Share change
-12,524
Value change
-$383,118
Number of holders
137
Price from insider filings
$56.42
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 31 Dec 2025, 137 institutional investors reported holding 5,713,528 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 56% 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% 869,788 -1.4% 0% $47,229,491
DIMENSIONAL FUND ADVISORS LP 6% 499,376 -1.2% 0.01% $27,116,347
VANGUARD GROUP INC 5.8% 480,482 -0.25% 0% $26,090,173
FIRST BUSINESS FINANCIAL SERVICES, INC. 4.4% 361,311 -3.5% 1.8% $19,619,187
MANUFACTURERS LIFE INSURANCE COMPANY, THE 3% 248,437 -2.5% 0.01% $13,490,129
GEODE CAPITAL MANAGEMENT, LLC 2.8% 235,050 +2.8% 0% $12,765,338
AMERICAN CENTURY COMPANIES INC 2.6% 217,010 +9.5% 0.01% $11,783,643
BANC FUNDS CO LLC 2% 166,224 -14% 1.8% $9,025,963
STATE STREET CORP 1.9% 158,055 -0.57% 0% $8,582,387
Cutler Capital Management, LLC 1.9% 153,785 -1.1% 2.5% $8,350,531
Pacific Ridge Capital Partners, LLC 1.7% 140,455 -2.9% 1.7% $7,626,707
LSV ASSET MANAGEMENT 1.6% 134,127 +7.8% 0.02% $7,283,000
RENAISSANCE TECHNOLOGIES LLC 1.6% 128,265 -9.4% 0.01% $6,964,790
AQR CAPITAL MANAGEMENT LLC 1.3% 105,951 +27% 0% $5,753,140
FEDERATED HERMES, INC. 1.3% 104,764 +46% 0.01% $5,688,686
De Lisle Partners LLP 1.2% 96,812 +3.4% 0.68% $5,256,892
Hillsdale Investment Management Inc. 1% 83,071 -1.1% 0.12% $4,510,755
NORTHERN TRUST CORP 0.91% 75,556 -9% 0% $4,102,691
BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.89% 73,727 +2.3% 0.08% $4,003,376
ALLIANCEBERNSTEIN L.P. 0.85% 70,334 -1.4% 0% $3,819,136
M3F, Inc. 0.71% 58,937 -11% 0.88% $3,200,000
VISTA INVESTMENT MANAGEMENT 0.64% 52,737 +0.78% 0.95% $2,863,622
GOLDMAN SACHS GROUP INC 0.64% 52,595 +6.7% 0% $2,855,909
Poehling Capital Management, INC. 0.63% 52,327 -10% 0.58% $2,841,356
MORGAN STANLEY 0.62% 50,922 +26% 0% $2,765,065

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 5,713,528 $310,248,797 -$383,118 $54.30 137
2025 Q3 5,699,616 $292,142,932 +$3,539,257 $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