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We advocate Deep Homomorphism Networks (DHNs) as a model particularly well-suited for learning over relational databases, due to their close connection to important fragments of SQL such as conjunctive queries. We study the precise expressive power of DHNs by relating them to various natural fragments and extensions of first-order logic (FO). For DHNs with max, sum, and mean aggregations, we establish connections to the unary negation fragment (UNFO) and to the extensions of UNFO with counting quantifiers and with ratio quantifiers. We further relate sum-aggregation DHNs to the unary quantifier alternation fragment of FO and to an extension of FO with expressive counting. 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