First Business Financial Services Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:FBIZ Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
07 Nov 25	BuyUS$3,649	Kevin Crampton	Individual	71	US$51.40
30 Jul 25	BuyUS$47,865	Jason Graham	Individual	1,000	US$47.87
30 Jul 25	BuyUS$478,000	Ralph Kauten	Individual	10,000	US$47.80
07 Feb 25	SellUS$263,367	Daniel Ovokaitys	Individual	4,828	US$54.55

Insider Trading Volume

Insider Buying: FBIZ insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of FBIZ?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	481,508	5.78%
General Public	2,065,197	24.8%
Institutions	5,777,553	69.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 57.95% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
10.6%	BlackRock, Inc.	882,264	US$51.1m	-6.81%	no data
6.07%	Dimensional Fund Advisors LP	505,577	US$29.3m	-0.75%	no data
5.79%	The Vanguard Group, Inc.	481,681	US$27.9m	6.76%	no data
4.5%	First Business Financial Services, Inc.	374,233	US$21.7m	-5.14%	1.95%
3.06%	Manulife Asset Management	254,821	US$14.8m	-2.03%	0.01%
2.75%	Geode Capital Management, LLC	228,703	US$13.3m	23.4%	no data
2.38%	American Century Investment Management Inc	198,245	US$11.5m	15.6%	no data
2.32%	Banc Funds Company, L.L.C.	193,524	US$11.2m	-26.8%	1.78%
1.91%	State Street Global Advisors, Inc.	158,961	US$9.2m	2.09%	no data
1.87%	Cutler Capital Management, LLC	155,493	US$9.0m	-0.2%	3.37%
1.74%	Pacific Ridge Capital Partners, LLC	144,623	US$8.4m	-2.24%	1.78%
1.7%	Renaissance Technologies LLC	141,565	US$8.2m	-6.04%	0.01%
1.62%	Corey Chambas	135,108	US$7.8m	-0.3%	no data
1.49%	LSV Asset Management	124,389	US$7.2m	44.6%	0.01%
1.31%	Bridgeway Capital Management, LLC	108,722	US$6.3m	-8.18%	0.09%
1.12%	De Lisle Partners Llp	93,640	US$5.4m	5.64%	0.69%
1.01%	Hillsdale Investment Management Inc.	83,971	US$4.9m	-19.3%	0.11%
1%	Northern Trust Global Investments	82,993	US$4.8m	3.4%	no data
0.98%	AQR Capital Management, LLC	81,384	US$4.7m	253%	no data
0.86%	Federated Hermes, Inc.	71,865	US$4.2m	0.86%	0.01%
0.86%	AllianceBernstein L.P.	71,334	US$4.1m	-0.7%	no data
0.8%	M3F, Inc.	66,477	US$3.9m	-31.2%	0.98%
0.79%	Gerald Kilcoyne	65,981	US$3.8m	0%	no data
0.72%	Driehaus Capital Management LLC	59,879	US$3.5m	0%	0.02%
0.7%	Poehling Capital Management, Inc.	58,327	US$3.4m	0%	0.68%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/12/19 03:57
End of Day Share Price	2025/12/19 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Business Financial Services, Inc. is covered by 7 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jeffrey Rulis	D.A. Davidson & Co.
null null	D.A. Davidson & Co.
Brian Martin	Janney Montgomery Scott LLC