Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our common stock is traded on the NASDAQ Global Select Market under the symbol HFWA.
Holders
At December 31, 2021, we had approximately 1,183 shareholders of record (not including the number of persons or entities holding stock in nominee or street name through various brokerage firms) and 35,105,779 outstanding shares of
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common stock.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table sets forth information about the Company’s purchases of its outstanding common stock during the quarter ended December 31, 2021:
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
October 1, 2021— October 31, 2021 — $ — 9,822,889 802,188
November 1, 2021— November 30, 2021 — — 9,822,889 802,188
December 1, 2021— December 31, 2021 64,730 23.03 9,886,773 738,304
Total 64,730 $ 23.03
Of the common shares repurchased by the Company between October 1, 2021 and December 31, 2021, 846 shares represented the cancellation of stock to pay withholding taxes on vested restricted stock units. See Note (15) Stockholders' Equity of the Notes to Consolidated Financial Statements included in Item 8. Financial Statements And Supplementary Data for additional information on publicly announced repurchase plans or programs.
Performance Graph
The following graph shows the five-year comparison of the total return to shareholders of the Company’s common stock as compared to the NASDAQ Composite Index, the KBW NASDAQ Bank Index and the S&P U.S. SmallCap Banks Index during the five-year period beginning December 31, 2016 and ending December 31, 2021. The graph assumes the value of the investment in Company’s common stock and each index was $100 on December 31, 2016, and all dividends were reinvested. Total return includes appreciation or depreciation in market value of the Company’s common stock as well as actual cash and stock dividends paid to common shareholders. The NASDAQ Composite Index is a broad equity market index comprised of all domestic and international common stocks listed on the Nasdaq Stock Market. During the year ended December 31, 2021, the previously used SNL U.S. Bank NASDAQ Index was replaced by the KBW NASDAQ Bank Index on the S&P Global Market Intelligence platform. The KBW NASDAQ Bank Index is and the previously used SNL U.S. Bank NASDAQ Index was a published industry index comprised of banks and related holding companies listed on the NASDAQ Stock Market. The S&P U.S. SmallCap Banks Index is also a published industry index, however, the index constituents are aligned within the same market capitalization range as the Company and we will include the S&P U.S. SmallCap Banks Index in the future since it is more closely aligned with holding companies and banks of our size.
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Years Ended December 31,
Index 2016 2017 2018 2019 2020 2021
Heritage Financial Corporation $ 100.00 $ 122.28 $ 120.65 $ 118.22 $ 101.59 $ 109.59
NASDAQ Composite Index 100.00 129.64 125.96 172.18 249.51 304.85
KBW NASDAQ Bank Index 100.00 118.59 97.58 132.84 119.14 164.80
S&P U.S. SmallCap Banks Index 100.00 104.33 87.06 109.22 99.19 138.09
*Information for the graph was provided by S&P Global Market Intelligence.
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ITEM 6. [RESERVED]