It could, as sage does clear a space. However, the smell and energy of the sage will eventually fade and the entity will be back because there is nothing to keep it out. A banishing ritual, on the other hand, draws a circle around you, with guardians at the cardinal points, making a boundary the entity cannot cross and it generally will last for at least 12 hours (that’s why students in the Golden Dawn were earnestly told to perform it in the morning and again at night).
Another option, is to open and charge this sigil and place it above your bed or next to you when you sleep: