Yes this is the second story concerning The Banner Saga 2 today, but Stoic has confirmed that the title will now release on July 5th for PS4. Originally the game was slated to arrive on July 26th. PlayStation players will get a unique item called the Playful Hilt of Arnr, which bestows +3 all talent rank and a +20% double strength damage from rank level 10.
You won’t need to have played the first Banner Saga to dive into the story of its sequel as there is a recap video in game that highlights the main plot elements. For those who have played the first game you’ll have the option of importing your saves so choices will matter. There was also confirmation that The Banner Saga was still in development for PS Vita.
Source: PS Blog