A drill bit for drilling a borehole in earthen formations comprising a bit body having a bit axis and a bit face. In addition, the drill bit comprises a primary blade extending radially along the bit face, the primary blade including a cutter-supporting surface that defines a blade profile in rotated profile view extending from the bit axis to an outer radius of the bit body. The blade profile is continuously contoured and includes a plurality of concave regions. Further, the drill bit comprises a plurality of cutter elements mounted to the cutter-supporting surface of the primary blade. Each cutter element on the primary blade has a forward-facing cutting face with a cutting edge adapted to penetrate and shear the earthen formation.