Banners dont render correctly on some blocks

Description

Banners dont render correctly on some blocks no matter if are placed on the world or are in the hand of a player or armor stand

Blocks tested

•  Water
• Glass (stained glass too)
• Rails

How to reproduce the bug

• place a banner 
• put some glass or water in front of the banner

Results

The banner renders on top of the block that is in front

Expected results

Banners should not render on top of any transparent block

 

See photos below for more details