  We report a preliminary measurement of the first and second moments of the
hadronic mass distributions in B --> X_c lv decays. The measurements are based
on Upsilon (4S) --> BBbar events where the hadronic decay of one of the B
mesons is fully reconstructed and a charged lepton from the decay of the other
B meson is identified. The moments are presented for threshold lepton momenta
ranging from 0.9 to 1.6 GeV. From the $<M_X^2>$ moments we determine the
non-perturbative Heavy Quark Expansion (HQE) parameters, $\bar{\Lambda}$ and
$\lambda_1$. We combine the measured moments $<M_X^2>$ with earlier BABAR
measurements of the semileptonic branching ratios and B lifetimes and perform a
simultaneous fit to the HQE for the moments obtained for different threshold
lepton momenta and the semileptonic decay width. This fit results in an
improved value for the CKM matrix element $|V_{cb}|$.
