The exploitation of mechanical properties and customization possibilities of 3D printed metal parts usually come at the cost of complex and expensive equipment. To address this issue, hybrid metal/polymer composite filaments have been studied allowing the printing of metal parts by using the standard Fused Filament Fabrication (FFF) approach. The resulting hybrid metal/polymer part, the so called “green”, can then be transformed into a dense metal part using debinding and sintering cycles. In this work, we investigated the manufacturing and characterization of green and sintered parts obtained by FFF of two commercial hybrid metal/polymer filaments, i.e., the Ultrafuse 316L by BASF and the 17-4 PH by Markforged. The Scanning Electron Microscopy (SEM) and Energy Dispersive X-ray Spectrometry (EDS) analyses of the mesostructure highlighted incomplete raster bonding and voids like those observed in conventional FFF-printed polymeric structures despite the sintering cycle. A significant role in the tensile properties was played by the building orientation, with samples printed flatwise featuring the highest mechanical properties, though lower than those achievable with standard metal additive manufacturing techniques.