SEC Form SC 13G filed by First Business Financial Services Inc.

2/3/23 12:09:58 PM ET

Major Banks

Finance

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SC 13G 1 us3193901002_020323.txt us3193901002_020323.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: ) FIRST BUSINESS FINANCIAL SERVICES, INC. -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 319390100 -------------------------------------------------------- (CUSIP Number) December 31, 2022 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 319390100 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 623582 (6) Shared voting power 0 (7) Sole dispositive power 643571 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 643571 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 7.6% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- FIRST BUSINESS FINANCIAL SERVICES, INC. Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 401 Charmany Drive P.O. Box 44961 Madison WI 53744 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, residence: ----------------------------------------------------------------------- BlackRock, Inc. 55 East 52nd Street New York, NY 10055 2(c) Citizenship: -------------------------------------------------------------------- See Item 4 of Cover Page 2(d) Title of class of securities: ------------------------------------------------------------------- Common Stock 2(e) CUSIP No.: See Cover Page Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: [ ] Broker or dealer registered under Section 15 of the Act; [ ] Bank as defined in Section 3(a)(6) of the Act; [ ] Insurance company as defined in Section 3(a)(19) of the Act; [ ] Investment company registered under Section 8 of the Investment Company Act of 1940; [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); [X] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; [ ] A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. Amount beneficially owned: 643571 Percent of class 7.6% Number of shares as to which such person has: Sole power to vote or to direct the vote 623582 Shared power to vote or to direct the vote 0 Sole power to dispose or to direct the disposition of 643571 Shared power to dispose or to direct the disposition of 0 Item 5. Ownership of 5 Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ]. Item 6. Ownership of More than 5 Percent on Behalf of Another Person If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of FIRST BUSINESS FINANCIAL SERVICES, INC.. No one person's interest in the common stock of FIRST BUSINESS FINANCIAL SERVICES, INC. is more than five percent of the total outstanding common shares. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. See Exhibit A Item 8. Identification and Classification of Members of the Group If a group has filed this schedule pursuant to Rule 13d-1(b)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group. Item 9. Notice of Dissolution of Group Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. Item 10. Certifications By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 3, 2023 BlackRock, Inc. Signature: Spencer Fleming ------------------------------------------- Name/Title Attorney-In-Fact The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001). Exhibit A Subsidiary BlackRock Advisors, LLC BlackRock Asset Management Canada Limited BlackRock Fund Advisors BlackRock Institutional Trust Company, National Association BlackRock Financial Management, Inc. BlackRock Japan Co., Ltd. BlackRock Investment Management, LLC *Entity beneficially owns 5% or greater of the outstanding shares of the security class being reported on this Schedule 13G. Exhibit B POWER OF ATTORNEY The undersigned, BLACKROCK, INC., a corporation duly organized under the laws of the State of Delaware, United States (the "Company"), does hereby make, constitute and appoint each of Christopher Meade, Daniel Waltcher, Una Neary, Richard Cundiff, Charles Park, Enda McMahon, Arlene Klein, Con Tzatzakis, Karen Clark, David Maryles, Daniel Ronnen, John Stelley, Daniel Riemer, Elizabeth Kogut, Maureen Gleeson, Daniel Kalish and Spencer Fleming acting severally, as its true and lawful attorneys-in-fact, for the purpose of, from time to time, executing in its name and on its behalf, whether the Company individually or as representative of others, any and all documents, is acting certificates, instruments, statements, other filings and amendments to the foregoing (collectively, "documents") determined by such person to be necessary or appropriate to comply with ownership or control-person reporting requirements imposed by any United States or non-United States governmental or regulatory authority, Including without limitation Forms 3, 4, 5, 13D, 13F, 13G and 13H and any amendments to any of the Foregoing as may be required to be filed with the Securities and Exchange Commission, and delivering, furnishing or filing any such documents with the appropriate governmental, regulatory authority or other person, and giving and granting to each such attorney-in-fact power and authority to act in the premises as fully and to all intents and purposes as the Company might or could do if personally present by one of its authorized signatories, hereby ratifying and confirming all that said attorney-in-fact shall lawfully do or cause to be done by virtue hereof. Any such determination by an attorney-in-fact named herein shall be conclusively evidenced by such person's execution, delivery, furnishing or filing of the applicable document. This power of attorney shall expressly revoke the power of attorney dated 8th day of December, 2015 in respect of the subject matter hereof, shall be valid from the date hereof and shall remain in full force and effect until either revoked in writing by the Company, or, in respect of any attorney-in-fact named herein, until such person ceases to be an employee of the Company or one of its affiliates. IN WITNESS WHEREOF, the undersigned has caused this power of attorney to be executed as of this 2nd day of January, 2019. BLACKROCK, INC. By:_ /s/ Daniel Waltcher Name: Daniel Waltcher Title: Deputy General Counsel

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Date

Price Target

Rating

Analyst

8/5/2024

$36.00 → $50.00

Neutral → Buy

DA Davidson

8/17/2023

$37.00

Overweight

Piper Sandler

11/2/2021

$33.00 → $34.00

Outperform

Raymond James

SEC Form SC 13G filed by First Business Financial Services Inc.

2/3/23 12:09:58 PM ET

$FBIZ

Major Banks

Finance

Get the next $FBIZ alert in real time by email

Date

Price Target

Rating

Analyst

8/5/2024

$36.00 → $50.00

Neutral → Buy

DA Davidson

8/17/2023

$37.00

Overweight

Piper Sandler

11/2/2021

$33.00 → $34.00

Outperform

Raymond James

SEC Form SC 13G filed by First Business Financial Services Inc.

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for
$FBIZ

SEC Form SC 13G filed by First Business Financial Services Inc.

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for
$FBIZ

$FBIZ
Analyst Ratings

First Business Financial upgraded by DA Davidson with a new price target

Piper Sandler initiated coverage on First Business Financial with a new price target

Raymond James reiterated coverage on First Business Financial with a new price target

$FBIZ
Insider Purchases

Director Kauten Ralph R. bought $478,000 worth of shares (10,000 units at $47.80), increasing direct ownership by 51% to 29,756 units (SEC Form 4)

Director Graham Jason R bought $47,865 worth of shares (1,000 units at $47.87), increasing direct ownership by 45% to 3,220 units (SEC Form 4)

Director Sanders Carol P bought $5,999 worth of shares (134 units at $44.77), increasing direct ownership by 1% to 11,136 units (SEC Form 4)

$FBIZ
SEC Filings

SEC Form N-PX filed by First Business Financial Services Inc.

SEC Form 13F-HR filed by First Business Financial Services Inc.

First Business Financial Services Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

$FBIZ
Press Releases

First Business Bank Declares Quarterly Cash Dividends

First Business Bank Reports Second Quarter 2025 Net Income of $11.2 Million

First Business Bank Announces Second Quarter 2025 Earnings Conference Call

$FBIZ
Insider Trading

Pres&CEO First Business Bank Hartlieb James Edward covered exercise/tax liability with 104 shares, decreasing direct ownership by 0.35% to 29,750 units (SEC Form 4)

Director Kauten Ralph R. bought $478,000 worth of shares (10,000 units at $47.80), increasing direct ownership by 51% to 29,756 units (SEC Form 4)

Director Graham Jason R bought $47,865 worth of shares (1,000 units at $47.87), increasing direct ownership by 45% to 3,220 units (SEC Form 4)

$FBIZ
Financials

First Business Bank Declares Quarterly Cash Dividends

First Business Bank Reports Second Quarter 2025 Net Income of $11.2 Million

First Business Bank Announces Second Quarter 2025 Earnings Conference Call

$FBIZ
Large Ownership Changes

SEC Form SC 13G/A filed by First Business Financial Services Inc. (Amendment)

SEC Form SC 13G/A filed by First Business Financial Services Inc. (Amendment)

SEC Form SC 13G/A filed by First Business Financial Services Inc. (Amendment)

SEC Form SC 13G filed by First Business Financial Services Inc.

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for $FBIZ

SEC Form SC 13G filed by First Business Financial Services Inc.

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for $FBIZ

$FBIZ Analyst Ratings

First Business Financial upgraded by DA Davidson with a new price target

Piper Sandler initiated coverage on First Business Financial with a new price target

Raymond James reiterated coverage on First Business Financial with a new price target

$FBIZ Insider Purchases

Director Kauten Ralph R. bought $478,000 worth of shares (10,000 units at $47.80), increasing direct ownership by 51% to 29,756 units (SEC Form 4)

Director Graham Jason R bought $47,865 worth of shares (1,000 units at $47.87), increasing direct ownership by 45% to 3,220 units (SEC Form 4)

Director Sanders Carol P bought $5,999 worth of shares (134 units at $44.77), increasing direct ownership by 1% to 11,136 units (SEC Form 4)

$FBIZ SEC Filings

SEC Form N-PX filed by First Business Financial Services Inc.

SEC Form 13F-HR filed by First Business Financial Services Inc.

First Business Financial Services Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

$FBIZ Press Releases

First Business Bank Declares Quarterly Cash Dividends

First Business Bank Reports Second Quarter 2025 Net Income of $11.2 Million

First Business Bank Announces Second Quarter 2025 Earnings Conference Call

$FBIZ Insider Trading

Pres&CEO First Business Bank Hartlieb James Edward covered exercise/tax liability with 104 shares, decreasing direct ownership by 0.35% to 29,750 units (SEC Form 4)

Director Kauten Ralph R. bought $478,000 worth of shares (10,000 units at $47.80), increasing direct ownership by 51% to 29,756 units (SEC Form 4)

Director Graham Jason R bought $47,865 worth of shares (1,000 units at $47.87), increasing direct ownership by 45% to 3,220 units (SEC Form 4)

$FBIZ Financials

First Business Bank Declares Quarterly Cash Dividends

First Business Bank Reports Second Quarter 2025 Net Income of $11.2 Million

First Business Bank Announces Second Quarter 2025 Earnings Conference Call

$FBIZ Large Ownership Changes

SEC Form SC 13G/A filed by First Business Financial Services Inc. (Amendment)

SEC Form SC 13G/A filed by First Business Financial Services Inc. (Amendment)

SEC Form SC 13G/A filed by First Business Financial Services Inc. (Amendment)

Recent Analyst Ratings for
$FBIZ

Recent Analyst Ratings for
$FBIZ

$FBIZ
Analyst Ratings

$FBIZ
Insider Purchases

$FBIZ
SEC Filings

$FBIZ
Press Releases

$FBIZ
Insider Trading

$FBIZ
Financials

$FBIZ
Large Ownership Changes