<ARTICLE>                                           BD
<LEGEND>
This Schedule contains summary financial information extracted from (a)
Consolidated Statement of Financial Conditions March 31, 1997 and Consolidated
Statement of Income -- Three Months ended March 31, 1997 and is qualified in its
entirety by reference to such (b) 10Q March 31, 1997.
</LEGEND>
<MULTIPLIER>   1,000
<CIK>                   0000083125    
<NAME>                  First Montauk Financial Corp.     
       
                             
<PERIOD-TYPE>              3-mos
<FISCAL-YEAR-END>                              Dec-31-1997
<PERIOD-START>                                 Jan-1-1997
<PERIOD-END>                                   Mar-31-1997
<CASH>                                         695
<RECEIVABLES>                                  602
<SECURITIES-RESALE>                            0
<SECURITIES-BORROWED>                          0
<INSTRUMENTS-OWNED>                            2,351
<PP&E>                                         1,146
<TOTAL-ASSETS>                                 8,278
<SHORT-TERM>                                   0
<PAYABLES>                                     2,923
<REPOS-SOLD>                                   0
<SECURITIES-LOANED>                            0
<INSTRUMENTS-SOLD>                             67
<LONG-TERM>                                    428
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       3,806
<OTHER-SE>                                     594
<TOTAL-LIABILITY-AND-EQUITY>                   8,278
<TRADING-REVENUE>                              1,396
<INTEREST-DIVIDENDS>                           248
<COMMISSIONS>                                  6,559
<INVESTMENT-BANKING-REVENUES>                  139
<FEE-REVENUE>                                  0
<INTEREST-EXPENSE>                             15
<COMPENSATION>                                 6,362
<INCOME-PRETAX>                                433
<INCOME-PRE-EXTRAORDINARY>                     0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   257
<EPS-PRIMARY>                                  .03
<EPS-DILUTED>                                  .03