WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE. <ARTICLE> BD <LEGEND> (Replace this text with the legend) </LEGEND> <CIK> 0000083125 <NAME> FIRST MONTAUK FINANCIAL CORP. <MULTIPLIER> 1 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> APR-01-1996 <PERIOD-END> JUN-30-1996 <EXCHANGE-RATE> 1.000 <CASH> 991 <RECEIVABLES> 2,241 <SECURITIES-RESALE> 0 <SECURITIES-BORROWED> 0 <INSTRUMENTS-OWNED> 5,361 <PP&E> 1,020 <TOTAL-ASSETS> 10,349 <SHORT-TERM> 0 <PAYABLES> 3,312 <REPOS-SOLD> 0 <SECURITIES-LOANED> 0 <INSTRUMENTS-SOLD> 1,390 <LONG-TERM> 199 <COMMON> 3,202 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 1,321 <TOTAL-LIABILITY-AND-EQUITY> 10,349 <TRADING-REVENUE> 3,237 <INTEREST-DIVIDENDS> 260 <COMMISSIONS> 7,742 <INVESTMENT-BANKING-REVENUES> 240 <FEE-REVENUE> 0 <INTEREST-EXPENSE> 23 <COMPENSATION> 8,115 <INCOME-PRETAX> 1,037 <INCOME-PRE-EXTRAORDINARY> 598 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 598 <EPS-PRIMARY> .07 <EPS-DILUTED> .07