Queen in the banner (4)
I believe the answer is:
anne
'queen' is the definition.
(Queen Anne, 18th-century queen)
'in the banner' is the wordplay.
'in' indicates the answer is hidden within the clue.
'ANNE' is hidden in the letters of 'banner'.
(Other definitions for anne that I've seen before include "First name of two of Henry VIII's wives" , "The Princess Royal" , "Name of queen or princess" , "One of the Bronte sisters" , "--- Elliot, later Wentworth (J. Austen)" .)