Banking & Finance

Competition is fierce and conditions remain ideal, so valuations are on the upswing in the Milwaukee area, according to local experts.

First Business Financial Services Inc., the Madison-based parent company of First Business Bank-Milwaukee, reported first quarter net income of $3.3 million, or 84 cents per share, up from $3.2 million, or 83 cents per share, in the first quarter of 2013.

Glendale-based Strattec Security Corp. today reported fiscal third quarter net income of $4.2 million, or $1 per share, up sharply from $1.4 million, or 32 cents per share, in the third quarter of 2013.

Wauwatosa-based Briggs & Stratton Corp. announced fiscal third quarter net income of $39.1 million, or 82 cents per share, up from $38.5 million, or 78 cents per share, in the third quarter of 2013.

Caterpillar Inc. today reported first quarter net income of $933 million, or $1.44 per share, up from $880 million, or $1.31 per share, in the first quarter of 2013.

Glendale-based Johnson Controls Inc. today reported second quarter net income of $291 million, or 39 cents per share, up significantly from $193 million, or 24 cents per share, in the second quarter of 2013.

Brookfield-based Sitzberger Widmann & Company S.C. and Milwaukee-based Hau & Associates have merged their public accounting firms.

Brown Deer-based Badger Meter Inc.’s stock has been upgraded by investment analysts at Robert W. Baird & Co. Inc. from a “neutral” rating to an “outperform” rating.
Baird has a new $57 per share price objective for Badger Meter’s stock, up from a previous price objective of $54.

Bruce Laning has been named president of Madison-based investment advisory firm Baker Tilly Investment Advisors LP. He will work out of the Milwaukee office.

Milwaukee-based private investment group SFM Investments LLC has acquired the assets of St. Francis-based Fontarome Chemical Inc. and its wholly owned French subsidiary FCI SAS out of chapter 128 receivership.