Oh sweet jeebus. Yeah, your VRM is probably overheating, so it is throttling - which explains why your temperatures are so low.
The board is a fairly old (even by AM3+ standards) AM3+ board, with "only" 4+1 phases to its VRM. It does support the FX-8350, but only at stock settings. I wouldn't be surprised if you experienced throttling at stock speeds as well.
So, if you really want to do some overclocking, you'll need to upgrade your motherboard. However, honestly, 4.0ghz is fine. Some games might experience a moderate boost, but, for the most part, anything above 4.2ghz isn't worth it.