Yes, you can change the sequence (reorder) of the banners with the help of the “Display Order” field present on the banner listing page.
You can easily reorder the banners by using the up/down arrows.
Example: If you replace page 1 with page 5, then the new sequence will be page 5 (as new page 1), and the original page 1 will change to page 2, and the original page 2 will now be page 3, and so on.